President of Faisalabad Chamber of Commerce and Industry (FCCI) Engineer Muhammad Saeed Sheikh has said that the $51 billion Chinese investment under China-Pakistan Economic Corridor (CPEC) would attract another US $150 billion investment from other countries hence there must be a preparedness at the government as well as at the business community level to fully exploit these emerging opportunities.
He expressed these views while speaking at a meet the press program at the FCCI on Sunday. He said that textile is the mainstay of national economy. "Out of US dollars 13 billion total textile exports, the share of Faisalabad is 55 percent but for the last 10 years this sector has been totally ignored by the successive governments," he said adding that electricity and gas was also a raw material for textile sector along with cotton and cotton yarn. Due to the shortage of electricity and gas many export-oriented units had been closed down during the last 10 to 15 years. He said that the present government had ensured uninterrupted electricity supply but the gas supply was suspended. He further said that the prices of these commodities were nothing but part of other irritants.
"We are uncompetitive with our regional competitors who are getting electricity and gas at much cheaper rates. Similarly, their governments are also providing them extra incentives and subsidies," he said, urging the government to provide a level playing field to the Pakistani exporters to compete with their rival countries in the international markets. He admitted that government had paid sales tax refund claims but still the payments of other claims were lying pending.
Responding to a question, he thanked the media persons for highlighting the issues of the business community. He expressed hope that this cooperation would continue in future. To another question, Saeed Sheikh said that the Pakistani ambassadors and particularly the commercial attachés posted abroad had bitterly failed in improving the overall image of Pakistan or contributing their role in enhancing Pakistani exports. He further said that during last 10 to 15 years the government policies were not industry-friendly. He said that we had high hopes that the present government would resolve our basic and fundamental issues but the decline in exports was indicative of its lukewarm attitude towards this sector. He said that government had to review and revisit its textile policies so that we could easily compete with our regional competitors. He also expressed his dismay over the non-appointment of textile minister saying that it was another example that this sector was being badly ignored by the present government.
Senior Vice President FCCI Rana Sikandar Azam said that traders were a major force but they were divided in groups and due to their division they were not getting proper respect in the government offices. He urged to rid business of politics to get solve basic and fundamental issues. He said that business community was not in conflict with the government but at that same time they couldn't close their eyes form their fundamental issues. He reiterated the demand of High Court Bench in Faisalabad saying it was not the issue of lawyers' community but now the business community had decided to launch a movement on this issue. He expressed optimism that media would cooperate with them in the genuine issue relating to the 125 million people of this division.
Vice President FCCI Engineer Ahmad Hassan said that business community must prepare itself to fully exploit the opportunities brewing within the country due to the CPEC. He said that Pakistan was an agricultural country but its production was half as compared to China. He said that we must launch joint ventures for value-addition and increase in production in collaboration with China. He said that government should formulate viable policies to benefit people. He said that Pakistan was still exporting four million bales of cotton which could be enhanced for value-addition to earn more foreign exchange. SVP Rana Sikandar Azam thanked media persons for their cooperation and support.