FPCCI urges focus on industrialisation

FPCCI urges government to prioritise Balochistan's industrialisation with incentives and a provincial bank.

KARACHI:

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has urged the government to prioritise industrialisation in Balochistan, underscoring tax and duty waivers, establishment and incentivisation of special economic zones (SEZs), creation of a Bank of Balochistan, and improved law and order to attract investors.

In a statement issued on Monday, Sheikh highlighted that Balochistan requires a dedicated provincial bank similar to the Bank of Punjab (BoP), Bank of Khyber (BoK), and Sindh Bank. He called on the federal and provincial governments to facilitate the establishment of the Bank of Balochistan (BoB) to ensure viable access to finance for setting up industries in the province.

Sheikh stressed that the BoB should tailor its lending policies to accommodate Balochistan's unique conditions, business limitations, and entrepreneurial needs.