PM committed to facilitating business community for economic stability: minister

LAHORE: Federal Minister Azam Khan Swati said on Friday that the Prime Minister is committed to facilitate business community and for the economic stability of the country.

He was speaking at the Lahore Chamber of Commerce & Industry. LCCI President Mian Tariq Misbah, Senior Vice President Nasir Hameed Khan and Vice President Tahir Manzoor Chaudhry also spoke on the occasion.

The Minister said that projects from the private sector will be welcomed and Pakistan Railways is ready for joint ventures. The Private sector should identify the sites at the land of Pakistan Railways, prepare a feasibility report and start the project. He said that land of Pakistan Railways will be available only for lease, not for sale. Pakistan Railways must be upgraded to boost Pakistan's economy and to reduce import-export costs.

He said that the government is going to make fundamental changes in the Federal Board of Revenue. He said that Pakistan Railways will start E-ticketing for Cargo trains. He said that Dry Ports will be activated while a cargo center will be established at Kot Lakhpat Industrial area with the collaboration of private sector.

LCCI President Mian Tariq Misbah said that LCCI is fully aware of the importance of Pakistan Railway. It is through Pakistan Railways, our businesses can get access to transporting through Rail Cargo Service which is relatively cost-effective. However, in the recent times, due to non-availability of sufficient cargo wagons, the businessmen have to bear the cost of transporting goods through trucks which are sometime three times costly as compared to train. Mian Tariq Misbah said that to be able to keep up with the expected increase of economic activities on account of CPEC projects, the rail tracks need to be upgraded. We are hopeful that once the ML1 project is completed, these things will be taken care of.

Copyright Business Recorder, 2021