The president of the Korangi Association of Trade and Industry (KATI), Masood Naqi, has urged the federal and provincial governments to craft a long-term strategy to energize industry for better competition in the international market.
He also urged them to define policy lines in the upcoming budgets to control the cost of doing business in the country.
Naqi said that the industry is suffering because of the underdeveloped industrial infrastructure in the absence of a smooth business environment.
Showing concern over the expending trade deficit to the record level of $20 billion during the current fiscal year, he said that although the federal government announced two packages for revival of export industry, nothing worked effectively due to the unaddressed root causes of down sliding exports.
He mention that all business , trade and banking activities have been brought under heavy taxation, while increasing surcharges on gas and electricity are causing heavy cost of production and doing business.