AGL 8.30 Decreased By ▼ -0.03 (-0.36%)
ANL 10.95 Increased By ▲ 0.25 (2.34%)
AVN 79.70 Increased By ▲ 1.51 (1.93%)
BOP 5.75 Increased By ▲ 0.18 (3.23%)
CNERGY 5.64 Increased By ▲ 0.26 (4.83%)
EFERT 79.36 Increased By ▲ 0.71 (0.9%)
EPCL 67.48 Decreased By ▼ -0.31 (-0.46%)
FCCL 14.89 Increased By ▲ 0.39 (2.69%)
FFL 6.70 Increased By ▲ 0.10 (1.52%)
FLYNG 7.16 Increased By ▲ 0.13 (1.85%)
GGGL 11.60 Increased By ▲ 0.26 (2.29%)
GGL 17.51 Increased By ▲ 0.27 (1.57%)
GTECH 8.35 Increased By ▲ 0.05 (0.6%)
HUMNL 7.17 Increased By ▲ 0.11 (1.56%)
KEL 3.14 Increased By ▲ 0.06 (1.95%)
LOTCHEM 35.20 Increased By ▲ 2.33 (7.09%)
MLCF 28.35 Increased By ▲ 0.05 (0.18%)
OGDC 87.70 Increased By ▲ 3.15 (3.73%)
PAEL 16.63 Increased By ▲ 0.18 (1.09%)
PIBTL 6.05 Increased By ▲ 0.20 (3.42%)
PRL 19.46 Increased By ▲ 1.34 (7.4%)
SILK 1.14 No Change ▼ 0.00 (0%)
TELE 11.41 Increased By ▲ 0.31 (2.79%)
TPL 9.20 Increased By ▲ 0.20 (2.22%)
TPLP 20.25 Increased By ▲ 0.37 (1.86%)
TREET 27.10 Increased By ▲ 0.48 (1.8%)
TRG 96.20 Increased By ▲ 1.70 (1.8%)
UNITY 20.85 Increased By ▲ 0.48 (2.36%)
WAVES 13.90 Increased By ▲ 0.27 (1.98%)
WTL 1.34 Increased By ▲ 0.03 (2.29%)
BR100 4,275 Increased By 67 (1.59%)
BR30 15,794 Increased By 348.3 (2.26%)
KSE100 42,872 Increased By 628.4 (1.49%)
KSE30 16,219 Increased By 247.6 (1.55%)

FAISALABAD: Newly posted Trade & Investment Officers (TIOs) would play a key role in enhancing exports, bringing maximum FDI and technology transfer for imports substitution industry, said Qamar Zaman, Group Leader of the TIOs who visited Faisalabad Chamber of Commerce & Industry (FCCI) here today.

He said that there were lots of complaints about the non cooperative attitude of the trade officers about 20 years ago but now strict selection procedure has been adopted for their selection while their scope of work has also been enhanced from exports only to bringing maximum FDI and technology to expand the export base. He said that new selectees have also been directed to report to the Board of Investment (BOI).

He acknowledged the industrial, commercial and business importance of Faisalabad and said that Faisalabad alone is contributing almost half of the total textile exports.

He said that earlier exporters have to face problems in linkages with trade and investment officers posted in different countries but now they could establish reliable linkages through the internet in addition to conducting zoom meetings with the concerned stakeholders. He particularly mentioned the M3 and Allama Iqbal Industrial Estates and said that 80% industrial units in Punjab are being established in these two estates. He said that 65 units are being established in collaboration with foreign investors which could help attract more investors from the different countries.

He said that the government is providing a facility of duty free import for machinery along with a ten years tax holiday for industrial units to be established in these estates.

He said that a vacancy of TIO in India was lying vacant for the last five years as there was no trade between the two countries. “Earlier Pakistan was importing dyes and chemicals from India”, he said and added that perhaps this import has been rerouted through other countries. He said that there are huge untapped opportunities for exports to Iran and Afghanistan as these countries have reliable systems of banking and payments, however, we must explore new avenues to launch joint ventures with these countries.

He suggested that FCCI should establish its liaison officer in Islamabad to interact continuously with the different departments of the Commerce Ministry.

Earlier President Atif Munir Sheikh introduced Faisalabad and FCCI and said that this city was contributing 45-48% share in total textile exports of Pakistan. “Similarly, Faisalabad is also catering to the 80% domestic needs of clothes and clothing”, he said and added that our more than one hundred members are dealing with the 15 countries where new trade and investment officers have been posted.

He said that separate desks have been established for B2B meetings between the trade officers and our members dealing with these countries. “It would help them to directly interact and discuss issues and problems hampering exports”, he said and added that FIEDMC has taken elaborate arrangements to facilitate the new investors.

“In this connection, one window operation has been launched from where industrialists could get NOCs for 32 different departments”, he said and added that NOCs are being issued within 90 days for high risk, 60 days for medium risk and 30 days for low-risk industrial units.

Moderator Muhammad Azhar Chaudhry gave a detailed presentation about the import and export from the 15 selected countries and said that these officers have already visited FPCCI and other chambers but to make this event meaningful and result oriented B2B meetings have been arranged.

He said that Whatsapp groups of the officers and businessmen would also be formed to strengthen their linkages. He urged the trade and investment officers to identify major imports from different countries and take necessary measures for the establishment of the import substitution industry in Pakistan.

Copyright Business Recorder, 2022

Comments

Comments are closed.