Industry wants policy reversal, incentivisation

Deplores poor performance of export sector

APP July 13, 2017

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the United Business Group (UBG) urged immediate payment of export rebate, restoration of Engineering Development Board (EDB) and reduction in electricity and gas tariffs, according to a statement released after a meeting between representatives of the two trade bodies on Wednesday.

The meeting was held between FPCCI President Zubair Tufail and UBG Chairman and Saarc Chamber of Commerce and Industry Vice President Iftikhar Ali Malik. The former, while urging the government to provide relief to the textile sector, stressed the need for boosting exports by incentivising exporters.

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“The government needs to formulate growth oriented monetary policies to strengthen the country’s economy,” Tufail said.

Saarc chamber vice president Iftikhar Ali Malik singled out Pakistan’s auto market for its solid growth compared to other South Asian countries. He pressed the government to adhere to its own “Auto Policy 2016-21” by offering tax incentives to new automakers establishing manufacturing plants in the country.

He added that the government should offer special power and gas tariffs to quicken the pace of industrialization.

Published in The Express Tribune, July 13th, 2017.

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