Faislabad Chamber of Commerce and Industry's building. PHOTO: FCCI WEBSITE
FAISALABAD:
Despite improving macro indicators, industrial production and exports remain low due to the high cost of doing business in the country, said Faisalabad Chamber of Commerce and Industry President Mohammad Nawaz.
However, he said the record decrease in oil prices right after Rs3 per unit cut in electricity tariff would help the overall national economy.
Addressing at the 43rd Common Training Programme of Civil Services Academy Lahore, he said value-added textile exports recorded a phenomenal increase of 23% during the first year of GSP Plus status, but shortage of gas and imposition of GIDC escalated the cost of production.
“I ask the government to set its priorities otherwise the industrial sector would become totally uncompetitive,” said Nawaz.
Former President Engineer Rizwan Ashraf stressed on the need for ‘Energy Act’ and said Pakistan had immense hydel potential but needed long-term policies.
Published in The Express Tribune, March 2nd, 2016.
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