PHOTO: FILE
LAHORE: Pakistan’s economy cannot run with a high mark-up rate and expensive energy tariffs, said Punjab Governor Chaudhry Muhammad Sarwar.
Talking to members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), he said, “The country is looking forward to promoting exports besides protecting domestic industry and trade, however, the high mark-ups and increasing energy tariffs may not help us get desired results from our exports.”
He said that the declining trend of cotton production in Punjab was alarming and we have to get better cotton seeds to boost production in the province. Sarwar said that Sindh is producing more cotton as its farmers use smuggled seeds from India. “If we as a government fail to improve the overall business environment, then our businessmen will no longer be able to compete in international markets.”
The governor said that international financial institutions have hailed the policies of the government. He assured that the government is pursuing the agenda of promoting exports and facilitating export-oriented industries by resolving their genuine issues.
Also speaking on the occasion, the newly elected FPCCI President Mian Anjum Nisar said that they will work with the government to resolve all issues of the business community for revival of growth momentum and enhancement in exports by ensuring ease of doing business in the country. He demanded a level-playing field not only for the exporters but also for the domestic industry, which cannot compete with the regional countries due to the high interest rate and energy tariffs.
Published in The Express Tribune, January 16th, 2020.
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