‘KP needs incentives to offset effects of militancy, war on terror’

PESHAWAR: Federal Minister for Commerce and Textile Muhammad Pervaiz Malik has said that Khyber Pakhtunkhwa deserves incentives to offset the effects of the decades-long militancy, terrorism and subsequent war on terror.

Speaking at a meeting with the business community during his visit to the Sarhad Chamber of Commerce and Industry (SCCI) here on Wednesday, the minister said the province suffered huge losses due to the country's ongoing war against terrorism and it deserved to be provided fair opportunities to meet these losses.

SCCI President Zahidullah Shinwari, executive members, former presidents and prominent businessmen attended the meeting. Pervaiz Malik assured businessmen that the federal government would chalk out policies to provide economic opportunities to the trade and business community of the province.

The minister said that provision of certain incentives and decrease in power outages became possible due to the restoration of peace as a result of the gains achieved in the war on terror. He also assured the SCCI members that they would be given representation in the delegations sent out by the Trade Development Authority of Pakistan (TDAP). The businessmen and traders of Khyber Pakhtunkhwa would also be given the opportunity to head different companies formed by Ministry of Commerce and Industry to promote commercial opportunities in the country, he added. Responding to a point raised by Zahidullah Shinwari, Pervaiz Malik said that Free Trade Agreements (FTAs) with different countries would be reviewed and drastic decisions would be taken in this regard.

Zahid Shinwari had sought concessions under FTAs with different countries, saying that the same were causing de-industrialisation in the country and slump in the business due to increase of imports.

To a question about demand of quarantine by plant protection department resulting in delay of transportation of export goods to Afghanistan, the minister said two officers each had been sent to Torkham and Chaman border posts to clear goods on the border crossing. The issue of payment of the rebate to the flourmills on export of wheat and flour to Afghanistan would be taken up with the Punjab government, he said.

Zahidullah Shinwari, earlier in his welcome remarks, urged the federal minister to review the imposition of regulatory duty on import of different items. The imposition of regulatory duty has highly affected business with Afghanistan, which has reduced to 500 million dollars from 2.5 billion dollars, he added.

The SCCI president also suggested to the federal government to opt for Trade Diplomacy with Afghanistan by sending a delegation of businessmen to Afghanistan to hold talks with the concerned quarters there to restore business between the two countries. He also demanded incentives package for the province to allow the businessmen to overcome the economic losses they faced because of the menace of terrorism.