Strategy being evolved for restoring industrial activities in SEZs: minister

Federal Minister for Industries and Production Hammad Azhar said on Friday the government was making all out efforts for revival of the economy and is also chalking out a comprehensive strategy for restoring industrial activities in the Special Economic Zones (SEZs) especially Allama Iqbal Industrial City after consulting the stakeholders.

Talking to Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq on Friday, Hammad Azhar said the federal government is also working on a plan for the revival of textile industry.

Despite huge burden of debt, Hammad said the PTI government announced the biggest stimulus package in the country's history and the government was also introducing multiple programmes to assist all sectors.

Hammad said the government was fully focused and the provision of medical facilities and food to the people was the topmost priority. "We would pursue the World Bank and the Asian Development Bank (ADB) to release their aid amounting to $600 million on different counts on fast track basis," he added.

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

FIEDMC Chairman Mian Kashif Ashfaq said he is much optimistic that as soon as international markets reopen after subduing coronavirus pandemic, Pakistan especially its SEZs including SEZ Allama Iqbal Industrial City, a prioritized Special Economic Zone of FIEDMC would stimulate the export base of Pakistan's industries besides bringing billions of rupees foreign investment in the country.

On the other hand, the Lahore Chamber of Commerce & Industry (LCCI) has welcomed cut in petroleum products prices saying the move would provide relief to the industrialists, traders and masses.

The LCCI President Irfan Iqbal Sheikh, Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad said on Friday that the Lahore Chamber was requesting since long for cut in petroleum products prices and markup rate. They said that business community and government need cooperation of each other at this critical time of the history to meet the challenges.

Opposition Leader in National Assembly Shahbaz Sharif has termed reduction in the prices of petroleum products as 'inadequate'.