The Federal Minister for finance Asad Umar has said that the exporters are the future of country's economy and the government is forging export oriented policies to ensure surge in dwindled exports. Government have strong believes that the economic revolution can only be possible through trade promotion and all possible support to export sector is being extended to achieve optimum growth.
Addressing the gathering of PTEA Export Excellence Awards at Pakistan Textile Exporters Association, he said that Government is fully committed to expedite growth of commerce to maximum possible level by using all available means. Government had revised the gas prices @ US$6.5/mmbtu for export oriented sectors in Punjab to secure their competitive edge in international market. Electricity price @7.5 cent per Kwh will also be fixed in coming days, he added. He underlined the need of an automated system for exporters' refunds and assured to bring systematic reforms in refund regime to save the exporters from liquidity crunch.
Speaking on the occasion, Minister of State for Revenue Hammad Azhar said that country is passing through an economic crisis; however Government had allowed Rs 44 billion subsidy on gas prices for export oriented textile sector.
Earlier, Chairman Pakistan Textile Exporters Association Khurram Mukhtar thanked the Government on fulfilling its commitment with textile industry by reducing the gas price for export oriented textile sector. Expressing high hopes on the Government, he extended full support for the Premier's vision of economic prosperity.
Later, Group Leader PTEA Ahmad Kamal presented a cheque of Rs 7 million as contribution for the Chief Justice and the Prime Minister Dam fund. Top ten textile exporters were also honoured with PTEA Export Excellence Awards who excel best performance in textile exports. A large number of textile exporters including parliamentarians Sheikh Khurram Shahzad, Asim Nazir and Faiz Kamoka attended the event.
Earlier on Friday addressing the business community at Faisalabad Chamber of Commerce & Industry (FCCI), he said that PTI in line with its manifesto has launched its journey to make Pakistan economically stable and progressive country so that we would get rid of IMF.
He denied the news that price of gas has been fixed at Rs 600 per MMBTU. He told that we are proposing the gas price at 6.5 dollars and electricity rates at 7.7 cent per unit. However, on the other hand IMF is pressurizing us to further increase the price of electricity to Rs 3.79 per unit.
"We are also being asked to withdraw the package already given to the industrial sector", he said, adding that we would make our own decisions in the best interest of the nation and the country.
Regarding distribution of taxes between federation and provinces, he told that we have to reconstitute National Finance Commission to give its award. In this connection, he had already written letter to Chief Ministers with a follow up reminder to nominate their representative but no reply has been received so far.
He also mentioned establishment of sugar mills in cotton belt and told that State Bank of Pakistan has worked on this issue which would be presented in next meeting of Economic Coordination Council. He said that cotton production has declined and it has become difficult for us to harvest even 10 million bales of cotton.
Speaking on this occasion, Syed Zia Alumdar Hussain, President FCCI appreciated the PTI government for providing gas at uniform rates across the country.
Engineer Rizwan Ashraf, Zafar Iqbal Sarwar, Rana Sikandar Azam, Chaudhary Abdul Haq and Aslam Bhali participated in question-answer session while Mian Javaid Iqbal presented FCCI shield to Asad Umar Federal Minister. Syed Zia Alumdar also presented FCCI shield to Hammad Azhar, State Minister for Revenue. During this meeting, parliamentarians belonging to PTI were also present in addition to the local business community.