LAHORE: The government policies would ensure promotion of industries, creation of job opportunities and revival of business affected due to corona, said Secretary Industries & Commerce Wasif Khursheed in a meeting with Sheikhupura Chamber of Commerce and Industry President Adil Mahmood.
He said Pakistan is one of the few countries which managed the Covid-19 pandemic after-effects in a better way by announcing major relief initiatives for the business and industries.
He appreciated the cooperation extended by industries and businesses to government in overcoming the crisis.
The Secretary Industries & Commerce said that policies and reforms are a reflection of the vision of Prime Minister Imran Khan and Punjab Chief Minister Sardar Usman Buzdar.
SCCI President Adil Mahmood lauded the vision of the government and efforts of government officials for the promotion of industries and businesses.
He assured the secretary of all cooperation in materialize the vision of the PM and CM.
“But there are some laws which are badly hurting inflow of investment, and government has to plug up loopholes in policies to further promote industries in the country,” said Adil.
Pointing out some fears, he said inconsistency in policies and complicated taxation system deters the local and foreign investment.
On the others hand there are many laws and regulations in our economic, trade, finance and taxation systems are either obsolete or complicated that do not help to generate revenue but hurting industrialization.
He urged the government to have detailed discussion with industries and businesses because some items are being imported under free or preferential treatment due to FTA/PTAs are available locally thus hurting the manufacturing sector.
Adil Mahmood urged the government to strengthen the role National Tariff Commission in protecting local industry as this step would go a long way to flourish vendors of different industries.
He presented a document of proposals to the secretary while senior members of the Sheikhupura Chamber of Commerce and Industry Mian Farooq and Manzoor Malik were also present in the meeting.
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