Promoting trade: Fresh package for K-P’s businessmen in the offing

Federal commerce minister says govt focused on reviving the province’s economy

PESHAWAR:

To support and revive business activities in war-affected Khyber-Pakhtunkhwa, the federal government will announce a new three-year relief package for businessmen, said Federal Minister for Commerce Khurram Dastagir on Thursday.

Addressing businessmen on his visit to K-P Chamber of Commerce and Industry (KPCCI), Dastagir said revenue generation is essential for economic stability and sustainability in the country.

“Instead of continuing with the previous financial relief package, a fresh package is being considered for the province, to help its economy get back on its feet, before the 2015-2016 budget is announced,” said Dastagir.

The PML-N led government is focused on exploring investment and job opportunities in the country by giving incentives and facilities to the country’s businessmen, particularly those in K-P, he said.

The minister added the government has not made any changes to the Pak-China Economic Corridor from Kashgar to Gwadar. “It will be executed according to the actual plan,” said Dastagir, adding the government is seeking assistance from K-P and Balochistan to ensure the project is completed early as it will have a positive impact on regional trade.

The minister also highlighted the need for a similar trade corridor with the country’s western neighbours to boost economic activities with Afghanistan and Central Asian countries.

He said the government is planning to establish a dry port at Torkham and Chaman followed by one at Ghulam Khan in Waziristan to establish trade relations with these countries.

Dastagir said a trilateral transit trade agreement between Pakistan, Afghanistan and Tajikistan would be finalised soon. He also stressed the need to discourage illegal trade with Afghanistan and other Central Asian countries.

“Our government is also focusing on establishing a road network across the country and plans to construct a highway between Quetta, Chaman, Zhob, and DI Khan to facilitate regional trade.

Dastagir further said the government had no prejudices in the distribution of the Export Development Fund (EDF). He urged the KPCCI to come up with effective economic proposals to ensure they get a hefty share from the fund. “K-P will get the lion’s share of the EDF if it presents promising projects,” said Dastagir.

Speaking on the occasion, KPCCI President Fawad Ishaq apprised the commerce minister of various problems the province’s businessmen face. He demanded that ambiguities be removed from the previous relief package announced by the government for the region’s businessmen.

Ishaq asked the government to withdraw its case in the Supreme Court challenging the verdict of Peshawar High Court regarding tax emption for the business community of the province.

The president also urged the government to immediately lift the ban on new industrial gas connections in K-P to promote industrialisation in the province.

“The federal government has always ignored K-P. Relief should be given to its business community which is affected by deteriorating law and order, extortion and kidnappings for ransom,” said the president.

Published in The Express Tribune, April 10^th, 2015.