Govt intends to reindustrialize Pakistan: Hammad Azhar

Federal Minister for Industries and Production has said that the present government intends to reindustrialize the country while making Pakistan into an exportin hub and an Asian Tiger.

Talking to the business community of Sialkot on Wednesday, he said that Pakistan was facing dire economic situation when the present government took over the reins. He said that the government was compelled to take stern action.

The minister informed that the government adopted austerity measures, especially praising the role of armed forces.

The government announced Rs60 billion electricity and gas subsidy package was given for exporters in the first year of the government. He said that the government would further introduce measures to facilitate business in the coming budgets.

Pakistan’s Ease of Doing Business improved by 28 positions in the first year of PTI government, and was hopeful that it would improve further this year despite the impact of the coronavirus pandemic.

The minister highlighted that the sales of cement, fertilizers have increased, whereas the country’s textile sector is in full swing due to the industrial packages announced by the government.

Azhar was of the view that if the country wants to progress, further investment is needed in introducing more technology and enhancing their capacity. He urged the investors to take benefit of the business-friendly policies of the government, alongside a free-floating exchange rate to boost their business further.

Earlier, Prime Minister Imran Khan inaugurated Air Sial Airlines during his day-long visit to Sialkot on Wednesday.

During his visit to the country's sports goods manufacturing hub, the Prime Minister will perform groundbreaking of various development projects under Punjab Intermediate Cities Improvement Investment Program, and Technology University Sambrial.