SIALKOT City News

‘World passing through worst recession’

From Our Correspondent

SIALKOT: Trade Development Authority of Pakistan (TDAP) Chairman SA Munir has said that the world is going through one of the worst phases of recession due to which exports of dozens of countries of the region, including economic giants China and Japan, are facing 14 to 20 per cent decline.

Addressing the Sialkot Chamber of Commerce and Industry (SCCI) here on Monday, he said that exports of Pakistan were also declining.

He hoped that the period of recession would soon be over and the exports of Pakistan would increase again, like in the rest of the world.

He said that refund claims of exporters worth billions of rupees were pending with the government. He assured the exporters that he would play his role and take all necessary measures to pursue the Ministry of Finance to get the huge refund claims released. He said that betterment of the exporters was his prime objective, which he could not achieve without the assistance of the finance and commerce ministries.

He termed import of the cheaper LPG as a blessing for the industries, which had been suffering badly due to the energy crisis. He urged the need to revive the labour laws of 1962.

SCCI president Mansoor Ahmed, vice-president Ehtsham Gillani, Senator Ilyas Bilour, Malik Iftikhar, Riazuddin Sheikh, Muhammad Waseem, Asim Shafiq Sulehria, Fazal Jilani, Ejaz A Khokhar, Mian Naeem Javed, Hamza Janjua, Dr Nauman Idrees Butt and others were also present on the occasion.