Industrialist and PTI Senator Nauman Wazir has asked the government for taking measures to cut down the cost of doing business in the country. He was addressing a Sustainable Development Conference organized under the auspices of Sustaining Development Policy Institute (SDPI). The function was organized to give practical shape to the proposal of signing the Charter of Economy given by him last month.
The Senator called for bringing down power tariff for industries from Rs 18 per unit to Rs 13 and the provision of cheap natural gas to the industries, adding that the price of RLNG, which is Rs 1100/mmbtu is also higher and in such situation exports of the country cannot be increased. He said like textile, the government should also provide subsidies on all other products to increase exports and attract other countries towards Pakistani products.
Senator Nauman Wazir said that Pakistan is facing a trade deficit of Rs 30 billion, which arrest is essential. He called for increasing exports. However, he linked it with the guarantee of the provision of sufficient electricity and cut in the per unit tariff of energy.
Regarding China Pakistan Economic Corridor (CPEC), he categorically stated that PTI is not opposed to the game changer project. However, he said that the benefits of this mega project should be extended to the whole country. Similarly, he said that under free flouting US dollar should also be brought down to the actual value as presently it is artificially kept under value while actual dollar-rupee parity is 1:120, which is discourage imports to benefit Pakistan.
About Free Trade Agreements (FTAs), he said that though Pakistan has signed FTAs with several countries, but instead of benefits they are inflicting losses on us. For instance, he said that earlier our trade deficit with China was only $ 2 billion but after the signing of FTA it grown up to $10 billion. Similarly, he said that SOE (State Owned Enterprises) whose total number is 186 are going in loss of Rs 560 billion and direct affectees of it is the poor people of Pakistan. He said that privatization of these companies are turning them into profitable organizations can prevent Pakistan from further losses. He said that it would be better for our parliamentary leaders to avoid giving further loans to these SOEs and discourage the tradition of bearing further losses of such enterprises.