Entrepreneurs demand release of funds
While chairing a meeting of entrepreneurs at the chamber, the President of ICCI Zahid Maqbool also urged the government to take steps to restore the shattered confidence of the business community.
He explained that the government had announced support funds for different schemes designed under the STPF for better promotion of exports. The failure to release funds for these schemes has upset the expansion plans of concerned businesses.
The proposal included setting up a design centre for leather garments, hiring of foreign experts, creation of research and development cells in trade bodies and bearing 25 per cent of the cost for building a laboratory for the tanning industry.
Many exporters have even hired foreign experts in anticipation of promised funds from the government but these funds are yet to be released by the government.
He also highlighted that the new budget has reduced the allocation for export promotion from Rs40 billion to Rs10 billion.
Published in The Express Tribune, July 25th, 2010.
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