Economy, industrial sector interlinked, says minister

LAHORE: Provisional Minister for Industries, Commerce and Investment Mian Muhammad Aslam Iqbal said that the national economy and industrial sector were interlinked as the industrial growth helps in boosting the national economy. Industrialisation in the country can result in generating new job opportunities.

Talking to businessmen and office-bearers of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here at Federation’s Regional Office Lahore here Wednesday, he said that special economic zones would be set up in the province which would enhance the trade and economic activities in the Punjab.

He said a scheme was being prepared for reduction of intervention of the government departments in business activities. He said the Punjab government was ready to provide ever possible relief to the business community in duties and taxes. He said that Punjab Small Industries Corporation has developed three categories for soft loaning.

Tevta was being revamped and technical education was being brought under one umbrella, the minister said adding that exports enhancement and imports reduction was one of the top priorities of the government. On the occasion, FPCCI former president and TDAP former chief executive SM Muneer demanded the government allot a piece of land for the FPCCI Regional Office, Lahore and other Chambers of Commerce in Punjab.

Abdul Rauf Mukhtar, Vice-President and FPCCI Regional Chairman demanded the government establish a Cottage Industrial Estate and he said a Trade Information Portal should be launched to get trade related regulatory information on import-export which should connect the Pakistani business community to international markets.

He said that the cottage industry be also housed in Industrial Estates of Punjab especially located in Sundar Industrial Estate Lahore, Gujranwala and Faisalabad in existing infrastructure or by acquiring additional land adjacent to the existing Industrial Estates.

FPCCI’s Vice-President Shireen Arshad Khan said that women entrepreneurs could contribute a lot to economic growth of the country if they realise their rights and work in partnership with business, government and civil society to improve their opportunities and outcomes in global value chains.