‘Govt evolving strategy to set industries back in motion’

LAHORE: Federal Minister for Industries and Production Hammad Azhar on Friday said the government as part of its efforts to revive the pandemic-hit economy was developing a comprehensive strategy for restoring activities of Special Economic Zones (SEZs), especially Allama Iqbal Industrial City, in consultation with stakeholders.

Azhar said this during a meeting with Mian Kashif Ashfaq, chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) who called on the minister at his office.

He said the federal government was also working on revival of textile industry and despite the huge challenge of debt, the Prime Minister Imran Khan preferred to provide relief to people suffering from lockdown restrictions.

He said the government had introduced the biggest stimulus package in the history of the country to help the nation in this difficult time amid coronavirus pandemic.

The minister said just one programme was not sufficient to help all segments of the society, therefore the government was introducing multiple programmes to assist all sectors.

Azhar said the government was fully focused and committed to facilitate the people in the critical situation.

The provision of medical facilities and food to the people was the topmost priority of the government and for that the government would pursue the World Bank and the Asian Development Bank to release their aid amounting to $600 million on different counts on fast track basis, he added.

He said all the provinces and federation were on the same page in determining the essential industries needed to be operational in this lockdown situation, adding the industries providing raw materials and inputs to these industries would also be kept open. In addition, he said, the government would ensure transportation of labour forces to these industries.

FIEDMC chairman Mian Kashif Ashfaq expressed his satisfaction over the performance of the present government and lauded the efforts of Prime Minister Imran Khan for supporting business community at this time of ordeal.

Kashif said he was much optimistic that as soon as international markets reopen after the coronavirus pandemic was over, Pakistan, especially its SEZs including Allama Iqbal Industrial City, a prioritised Special Economic Zone of FIEDMC would stimulate the export base of Pakistan’s industries besides bringing billions of rupees foreign investment in the country.

He said currently FIEDMC was also facing hurdles to accomplish necessary tasks. The completion of these tasks was important in order to create economic activities and to help the country boost its exports, Kashif said adding that in fact, a whopping $2 billion worth of export orders were yet to be materialised due to the COVID-19 outbreak.