MULTAN: Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi has said the government is in the process of formulating new industrial and auto policies.
Addressing a ceremony at Multan Chamber of Commerce and Industry (MCCI) on late Friday night, Jatoi said that and feedback from stakeholders would be given due importance before finalizing the policies.
He said the government was in contact with all the stakeholders to finalize a new industrial policy. The government is also going to introduce a new auto policy that would benefit all stakeholders, he added.
He said the government was pursuing short term and long term strategies to overpower energy crisis while exploiting country's vast coal reserves was a top priority to achieve the objective.
Solar and wind energy resources were also being utilized and a big wind power project was in progress at Badin, he added.
To a question regarding higher exchange rate of dollar against rupee, he said the government was adopting a prudent policy to strengthen rupee for national economic development.
"Rate of dollar went down a bit in recent past and we wish that it should reach Rs 100," the minister added.
He said the government inherited energy crisis from the previous regime, however, the government took it as a challenge and attaches top priority to overpowering the trouble.
The government was striving hard to import LPG and LNG from Qatar and complete Pak-Iran gasline project, he said.
The minister said that the proposed Gwadar-China motorway, after completion, would have economic zones after every 200 kilometre distance.
He said that an economic zone was being set up at Bin Qasim over an area of 1000 acre while another economic zone would be built at Sargodha. Government will also make efforts to set up an economic zone in Multan, he added.
To a question regarding unemployment, he said that promotion of cottage industry in rural areas would help in creating new jobs for the unemployed youth while the government was also introducing investment friendly policies to address the problem.
Jatoi, when asked about trade with India, said, PML-N government wanted to have good relations and to promote trade with the neighbouring countries, however, added that interests of the Pakistani traders and industrialists would also be protected.
About a query on sales tax on tractors, he said that the matter was related to the finance ministry but he will discuss it in the ECC meeting.
Jatoi said that no permission was required from the federal government for establishment of new industry, however, added that permission from provincial government was required in case of setting up some industries.
He said that the government was making all out efforts to solve problems of business community and industrialists.
Earlier, President MCCI Khawaja Usman while delivering his address of welcome, demanded that the industrial policy should be introduced for at least five years and the industry be given priority in supply of gas and electricity. Industrial and economic zones should be set up in the South Punjab and mark up on loans should be reduced, he suggested.
Khawaja demanded to give role to Chambers of Commerce in development projects while training courses should be arranged for the capacity building of business community.
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