KARACHI: Advisor to Prime Minister on Maritime Affairs Mehmood Moulvi has said that Pakistan’s economy has begun showing positive trends as a result of government’s strategic decisions.
Addressing at annual dinner of the Pakistan Soap Manufacturers Association (PSMA), he said that the country has now overcome of current account deficit and there are signs of growth in exports. The government is taking steps to slash import duties on raw materials with a view to bringing down cost of production and increasing and decreasing volume that will allow export margin, he added.
“This is good news that members of PSMA are exporting Soap”, he said and added that the government will eliminate all problems being faced by soap exporters with support of Ministry of Finance and Ministry of Commerce.
Moulvi said that this industry is very important as they are manufacturers of soap, detergent, sanitizer and other health care products.
Chairman PSMA Saeed Ahmed presenting brief introduction said that the association is working since 1968 and now there are more than 150 member companies including multinational companies which contribute to around 70 billion in taxes and employs are 700,000 people from the country’s workforce. He also briefed about the progress of the association and informed that the association makes efforts to bring customs valuation of Palm Oil and its bye product in line with the International Market prices by linking the products with their respective International Journals.
He also appreciated the efforts of the government in successfully controlling and managing the pandemic. He appreciated the economic activities of the government for understanding of genuine demands of soap industry.
Chairman PSMA thanked the Chief Guest Mehmood Moulvi Advisor to Prime Minister on Maritime Affairs and other Guests of Honor including Consul General of Indonesia Dr. June Kuncoro, Deputy Consul General of Malaysia Johri Minal, Shakil Ashfaq Past President Bqati, Salim Dada President All Pakistan Solvent Extractors Association (APSEA) Rasheed Jan Muhammad Chairman PEORA and Media Personnel for their presence at Annual Dinner of the Association at local hotel of Karachi.
The Honorable Consul General of Indonesia Dr. June Kuncoro Hadiningrat said in his speech that the trade volume between Indonesia and Pakistan has risen considerably in the last few years. In 2020 exceeded $ 2.58 billion or growing more than 11 percent compared to $ 2.32 billion in 2019. He congratulated PSMA for the positive progress in soap industry and hoped it will continue to grow, even though there are some notes from Pakistani business as soap categorized as luxury item and the raw material is subject to high tax.
He hoped relations between soap industries of Indonesia & Pakistan shall grow positively, as both Governments are agreed to elevate the level of economic cooperation and Preferential Trade Agreement (IP PTA) signed in 2012, into Free Trade Agreement (FTA) or Indonesia – Pakistan Trade in Goods Agreement (IP TIGA) with the target of the completion in 2022.
The Convener Organizing Committee Usman Ahmed put forward the fact that the Association is amongst the economic front liners in the war against Covid. He diverted the kind attention towards problems in export of soap and allied products.
Copyright Business Recorder, 2021
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