Businessmen should help govt deal with economic challenges: Punjab governor

Says there is a need to enhance exports and trim imports in order to stabilise economy


Imran Rana November 13, 2018
Punjab Governor Chaudhry Muhammad Sarwar. PHOTO: EXPRESS

FAISALABAD: The business community should supplement government’s efforts to successfully face the economic challenges that was already moving with a focused approach to enhance national exports, said Punjab Governor Chaudhry Muhammad Sarwar.

Addressing a delegation of the Faisalabad Chamber of Commerce and Industry (FCCI), the governor highlighted the role of the business community, terming the private sector as an engine of growth for the economy.

“We must understand each other’s role in order to achieve the ultimate objectives of progress and prosperity.” Sarwar said the business community was engaged in helping the government create jobs and earn foreign exchange, in addition generating maximum revenue through taxes and duties.

He said that the government is fully aware of their role and is trying its optimum to facilitate them within the given resources.

Referring to the gas problem, the governor shared his concerns and revealed that he had many meeting with the prime minister, petroleum minister, finance minister and commerce adviser regarding the issue. He said that the energy issue was under consideration and would be resolved very soon.

Sarwar said that Pakistan had a mounting trade deficit, which cannot be compensated with just loans. He said that there was a need to enhance exports and trim imports in order to stabilise the economy.

The Punjab governor supported the proposal of FPCCI former president of initiating a dialogue between the government and the office bearers of various exports associations and policies should be finalised in consultation with the real stakeholders.

Sarwar also commended the efforts of business community that has already installed a number of water filtration plants in every nook and corner of Faisalabad.

He assured the chamber member of his support and to have detailed and comprehensive discussion on their problems.

Pak-Iran: Trade and travel suspended for three weeks

Also speaking on the occasion, FCCI President Syed Zia Alamdar Hussain expressed concern over the gas bills, saying that the finance minister had categorically announced that the export sector will get gas at $6.5 per mmbtu but the gas bill had been issued at the rate of Rs1,600. Similarly, the finance minister had also announced that electricity will be provided at 7.5 cent per unit but notification in this regard is still awaited.

Trade deficit narrows to $8.9b in first quarter

He also stressed the need for the revival of sick industrial units and told that these units could immediately start their production and exports with only facilitation from the government.

Published in The Express Tribune, November 13th, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

E-Publications

Most Read

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ