KARACHI: President Dr Arif Alvi on Monday said during period of 2013-18, the tyres’ smuggling witnessed a rise but now their manufacturing in the country would help control the menace.
Addressing the inauguration ceremony of a Service Long March (SLM) tyre factory at Nooriabad about 80 Km away from here, he expressed the pleasure that foreign investment was increasing in the country.
Dr Arif Alvi said that establishment of SLM factory was the result of joint efforts of Chinese and Pakistani investors.
Appreciating the China’s government and its leadership, he said there were numerous sectors like agriculture, auto and other in Pakistan where Chinese companies could invest and it would be beneficial for the two countries and its peoples.
The president said a number of steps had been taken to attract foreign investment and promote export through value-addition in the country.
He told the governor State Bank of Pakistan had done tremendous job by facilitating the business community in the country.
“No country can prosper, if stakeholders are not included in the policy-making process”, he added.
The employment opportunities for the women and disabled persons should be created, the president reiterated.
Speaking on the occasion, Governor State Bank, Dr Reza Baqir said the bank had introduced Temporary Refinance Economic Facility (TREF) to boost business activities in the country and loans, particularly for small business, were being given through the scheme on priority.
He said that loans were being given through commercial banks for small business on priority to boost business activities in the country.
The governor said that annual export of three hundred million dollars was expected through the tyres’ manufacturing factory.
On the occasion, CEO SLM, Usman Saeed said that SLM was the export-oriented company in the country, adding that we made profits but major share of it was being spent for welfare of the people in the country.
“We have established hospitals serving the poor people in the country and in addition, all kinds of support have been extended to other foundations in the country”, the CEO informed.
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