Package would be introduced very soon for revival of sick units and to cut down electricity rates.
FAISALABAD - Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) for Industries and Production, has said that efforts have been expedited to include Pakistan into 20 top economies of the world by announcing a revolutionary industrial policy immediately after the success of operation Bunyan-um-Marsoos.
Representing PM Shehbaz Sharif in 50-year Gold Jubilee celebrations of Faisalabad Chamber of Commerce & Industry (FCCI) here on Saturday, he said that the federal government is fully aware of the economic importance of Faisalabad and is taking appropriate steps to resolve the issues being confronted by the business and industrial communities.
He said that the industrial sector has faced critical situation during last 2-3 years but now situation is improving. Inflation has come down to 1 percent from 38 percent while policy rate has been trimmed to 11 percent from 22 percent. Similarly, electricity rates have been reduced which would witness further decline in the coming months, he added.
He said that Prime Minister Shehbaz Sharif is taking special interest in the issues relating to economy and industry. “Committees are being constituted in case of any difference”, he said and added that the PM himself monitors the follow-up decisions taken by these committees.
He said that a package would be introduced very soon for the revival of sick units and to cut down electricity rates while a committee has been constituted to streamline the loaning system for the private sector.
He said that a new law would be introduced to prohibit immediate seizure of assets of bankrupt units rather they would be given 6 months to one year time for restructuring. Current laws are also being amended to discourage harassment of industrial sector by FIA, NAB and FBR, he added.
He further said that 75 percent work on new industrial policy has already been completed under which no incumbent government could change this policy for a specified period of five years. Change in net-metering policy has also been stopped on protestation of the concerned sectors, he added.
He assured that visible relief would be passed on to the common man and industrial sector in the upcoming new budget.
He said that the custom duty has been reduced which would be gradually brought down to the zero. This step would also reduce cost of production and local products would be available at much cheaper rates, he added.
He said that the government was also contemplating to give relief to the real estate sector and the people should invest in businesses to earn profit.
Earlier, Rehan Naseem Bharara, President FCCI, welcomed the Special Assistant to PM and said that the government should facilitate the industrial and business sectors to make Pakistan economically strong.
He demanded a new central airport near Faisalabad Industrial Estate Development & Management Company (FIEDMC), a passport office in FCCI and upgradation of Faisalabad-Pindi Bhattian Motorway from 4 to 6 lanes.
Mian Muhammad Adrees, former President Pakistan Federation of Chambers of Commerce & Industry (PFCCI) and FCCI, said that government departments should not be allowed to harass the business entities rather deterrent punishment should be awarded to the black sheep present in these departments.
He said that interest-based system is being eliminated from the country but some elements are trying to sabotage this effort. Being Muslims, we are duty bound to foil all such conspiracies hatched against the Islamic banking system, he added.
Haroon Akhtar Khan immediately after his arrival cut a cake to mark the Golden Jubilee of FCCI and success of operation Bunyan-um-Marsoos. He also recorded his impressions in the Visitor Book.
Later, FCCI President Rehan Naseem Bharara presented a special shield to SAPM while Haroon Akhtar Khan also distributed shields among executive members of the FCCI in addition to participating in a group photo with the local business community.
