Businessmen Panel urges Prime Minister for a policy to promote industrialization in the country

Lahore, December 06, 2017 (PPI-OT):The Businessmen Panel (BMP) has urged the Prime Minister of Pakistan to devise a policy in order to promote industrialization in the country which is much needed for the economic prosperity. The Panel said we also need to revisit our trade policy as country exports decline in three years where as Bangladesh exports rose from $ 24 billion to 36 billion, comparatively our trade deficit were very alarming, if we include even overseas Pakistani remittance still over $15 billion trade deficit is there. These views were shared by the officials of BMP coming from all four Provinces, Gilgit Baltistan, AJK and FATA who called the Prime Minister of Pakistan Shahid Khaqan Abbasi at the PM office led by its Chairman Mian Anjum Nisar.

Mian Anjum Nisar said that we are well aware the problems of the governments and we want to support, but at the same time government may also realize the problems faced by the business community. He said last month Regulatory Duty was imposed on 731 items without the consultation of the Chambers of commerce and Trade Associations which could increase of doing business and also enhance smuggling . He also highlighted the issue of increasing of Cost of doing business which was confronted by the traders and the businessmen at large.

Anjum added we were thankful to the government that CPEC was launched but at the same time the business community were demanding the same incentives to the Pakistani counterparts what you were offered to Chinese private sector. Similarly Special Economic Zones (SEZ) which was offered in CPEC is still not operative physically. He requested the Prime Minister to functional the SEZ’s so that private sector of Pakistan may construct industries on it.

The Chairman BMP put also drew attention on the Sales Tax refunds which were pile up day by day, in this regard he advised FBR should make a workable mechanism to release the sales tax claims which is much needed to rotate the financial circle of the businessmen.

The Prime Minister said the government is determined to support industry and we were well aware that industry is engine of any economy. He said there is some misconception that government was giving some out of box incentives to Chinese businessmen in the wake of CPEC. I assure you there is nothing like that. Only we were given some incentives to those industries in China who want to relocate their industry from China to Pakistan, as you may aware that cost of doing business was increased in China.

Mr Abbasi also said the committee were also working on the exports of surplus sugar, in the mean time we initiated the close coordination with the provinces to resolve the issues of business community which they were faced, as after 18th amendment some roles already shifted towards provinces. The PM also directed the Commerce Minister to start close liaison with the business community and the chambers of commerce, so that we may well aware with the issues, as he has the believe the dialogue with the business community must continue.

The meeting was attended by Commerce Minister, Pervez Malik, Advisor to PM on Economy, Miftah Ismail, Secretary to the Prime Minister Mr. Fawad Hassan Fawad, Secretary Textile Mr. Hassan Iqbal, Vice President FPCCI Rasheed Piracha, PIAF Chairman Irfan Iqbal Sheikh, Chairman Pharmaceutical Association Kh. Shahzeb Akram, President PBIF Mian Zahid Hussain, President’s of Lahore, Gawadar, Makran, Chitral, DI Khan, Dadu and Fata Chambers of Commerce, officials of Pakistan Sugar Millers Association, Former VP’s FPCCI Adnan Jalil, Riaz Khattak, Mian Shaukat Former President FPCCI Zakria Usman and FPCCI Regional Standing Committee Chairman, Ahmad Jawad and Former President Mardan CCI Qaisar Khan Daudzai, others notables were attended the meeting.

For more information, contact:
Public Relations Officer,
The Businessmen Panel Group (BMP)
Central Office: 5A, Main Boulevard, Gulberg, Lahore, Pakistan
Tel: +92-42-35782294
Cell: +92-321-4441691

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