Businessmen propose economic dialogue

Demand comes following closure of two tractor plants

LAHORE:

The government and the major opposition parties should sit together for forging political unity and kicking off economic dialogue to steer the country out of the current crisis, emphasised businessmen and industrialists.

A delegation of Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam), led by its Senior Vice Chairman Usman Aslam Malik, met with Lahore Chamber of Commerce and Industry (LCCI) President Kashif Anwar and Vice President Adnan Butt on Friday to review the current economic situation that had dealt a blow to the tractor and auto parts industry.

In a joint statement, the association and chamber leaders voiced deep concern over the complete shutdown of two major tractor plants, Millat and Al-Ghazi, in the wake of low sales and held-up sales tax refunds.

The closure of the tractor industry would have crippling effects at the grassroots level, they said. “We should save the state first, then engage in politics,” the statement quoted them as saying.

They suggested to the government to offer an amnesty scheme to foreign currency holders, believing that early announcement of amnesty for the voluntary disclosure of foreign currency would shore up the shrinking foreign currency reserves.

Published in The Express Tribune, January 7^th, 2023.

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