Punjab Governor Chaudhry Muhammad Sarwar has predicted economic growth in the coming days, saying things are moving in the right direction.
Speaking at the Lahore Chamber of Commerce and Industry (LCCI), Sarwar stated that rupee-dollar exchange rate was no more being controlled and kept artificially high, as was done in the past.
Shedding light on the challenges faced by businessmen, the governor said all concerns of the business community were genuine and resolution of the issues would help to boost the national economy manifold.
He pointed out that the current government had reduced the import bill and also the current account deficit significantly. “No other government has achieved what we have done in two years,” he said, adding, “bold steps taken by the government will soon bear fruit and all concerns of the business community will be addressed shortly.”
He assured the business community that he would arrange meetings of LCCI members with the government officials concerned to resolve their issues.
Speaking about the high energy tariff, Sarwar said the agreements signed by previous governments with the independent power producers (IPPs) were being renegotiated and hopefully electricity prices would be reduced.
He stressed the need for strengthening relationship between the industry and academia so that research being conducted by various universities could be according to needs of the industry.
LCCI President Irfan Iqbal Sheikh said the chamber had declared an export emergency right after its elections.
He apprised Sarwar that to achieve the export target, the LCCI had set up an export facilitation centre for providing essential information to exporters and an Africa desk had also been established to explore the untapped export market in the African continent.
Sheikh underlined the need for industrial zoning in Lahore, adding that the existing Quaid-e-Azam Industrial Estate and Sundar Industrial Estate had already been fully utilised and there was no space available to set up new industrial units.
He urged the government to regularise all existing industrial units established at Ferozpur Road, Shahdara Road, Multan Road, Raiwind Road, Bund Road, Kasur Road and Katarbund Road without any conversion charges.
The LCCI chief, while voicing concern over the exorbitant gas and electricity tariffs as well as petroleum product prices, said, “The business community is already struggling due to Covid-19. Immediate steps should be taken to reduce the cost of doing business.”
He also highlighted the vehicle parking issue in big markets of Lahore and requested the governor to expedite the construction of parking plazas in major markets of the city.
LCCI Senior Vice President Ali Hussam Asghar said water tariff was higher in Lahore as compared to other cities of Punjab and demanded that the tariff should be uniform across the province.
He added that to control the law and order situation in markets, the scope of safe city project should be extended to all major markets of Lahore.
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All non experts and incompetent become experts and start making statements on the pakistan's economy. Will this governor tell us how much foreign debt has Pakistan incurred in last two years. How much the prices of daily items has increased in last 2 years.