AGL 5.75 Decreased By ▼ -0.08 (-1.37%)
ANL 9.08 Increased By ▲ 0.05 (0.55%)
AVN 79.25 Increased By ▲ 0.45 (0.57%)
BOP 5.21 Increased By ▲ 0.05 (0.97%)
CNERGY 4.73 Increased By ▲ 0.05 (1.07%)
EFERT 81.22 Increased By ▲ 0.67 (0.83%)
EPCL 50.87 Decreased By ▼ -0.84 (-1.62%)
FCCL 13.51 Decreased By ▼ -0.10 (-0.73%)
FFL 5.82 Decreased By ▼ -0.03 (-0.51%)
FLYNG 7.25 Increased By ▲ 0.13 (1.83%)
FNEL 4.80 Decreased By ▼ -0.05 (-1.03%)
GGGL 8.90 No Change ▼ 0.00 (0%)
GGL 15.82 Decreased By ▼ -0.23 (-1.43%)
HUMNL 5.88 Increased By ▲ 0.08 (1.38%)
KEL 2.59 Decreased By ▼ -0.01 (-0.38%)
LOTCHEM 29.98 Decreased By ▼ -0.03 (-0.1%)
MLCF 25.28 Decreased By ▼ -0.12 (-0.47%)
OGDC 72.63 Increased By ▲ 0.48 (0.67%)
PAEL 15.43 Decreased By ▼ -0.06 (-0.39%)
PIBTL 5.13 Increased By ▲ 0.12 (2.4%)
PRL 16.48 Increased By ▲ 0.08 (0.49%)
SILK 1.09 Decreased By ▼ -0.01 (-0.91%)
TELE 9.53 Decreased By ▼ -0.12 (-1.24%)
TPL 7.40 Increased By ▲ 0.10 (1.37%)
TPLP 19.29 Increased By ▲ 0.06 (0.31%)
TREET 21.87 Decreased By ▼ -0.08 (-0.36%)
TRG 144.68 Decreased By ▼ -0.29 (-0.2%)
UNITY 17.56 Increased By ▲ 0.94 (5.66%)
WAVES 10.01 Increased By ▲ 0.01 (0.1%)
WTL 1.37 No Change ▼ 0.00 (0%)
BR100 4,258 Increased By 27.9 (0.66%)
BR30 15,841 Increased By 19.2 (0.12%)
KSE100 42,374 Increased By 302.3 (0.72%)
KSE30 15,665 Increased By 161 (1.04%)
Follow us

FAISALABAD: Political and economic uncertainty coupled with disharmony between federal and provincial governments is badly affecting the businesses, said Faisalabad Chamber of Commerce & Industry (FCCI) president Atif Munir Sheikh.

Addressing the annual dinner of the All Pakistan Bed Sheets and Upholstery Manufacturers Association (APBUMA), he said federal and provincial governments are at daggers drawn and the business community has been sandwiched between their political rivalries and confrontation.

He said gas tariffs are different for Punjab and other provinces which are directly hitting the industrial sector of this province and the Punjab government must highlight this issue at the national level to provide a level playing field to the industrial sector across the country. He further said that the Punjab government must resolve the provincial issues on top priority basis which directly falls under its domain.

Continuing, Atif Munir Sheikh said the business community had close liaison with the previous government and their issues were being resolved expeditiously as they had direct access to the top level. He termed the tenure of Mian Aslam Iqbal as best during his previous term as provincial minister for industry and trade.

“Mian Aslam Iqbal not only resolved their provincial issues but also played a key role in settling the matters relating to the federal government”, he said and also appreciated his unprecedented cooperation during the organization of Pakistan Economic Conference by FCCI. However, he said despite our best-efforts, issues relating to the FIEDMC are still pending.

He said that standing crops, water courses and illegal passages in allotted plots are major causes of delay in the colonization of M3 and Allama Iqbal Industrial Estates. He said that non availability of the FIEDMC board and Chief Executive Officer has also delayed investment of millions of dollars by the local and foreign investors with technology transfer. He said that it is now your (Mian Aslam Iqbal) responsibility to focus on its speedy colonization to enhance exportable surplus in addition to creating jobs for the unemployed youth.

He said on the directive of former chief minister Usman Buzadar, one window operation and special facilitation desk was also established at FIEDMC but these could not give expected results due to the regime change. He particularly mentioned the proposed labour card to provide subsidized products to the secured industrial workers but it could not be introduced.

He said now it must be launched on a top priority basis to facilitate the workers. He also mentioned the SME sector which is one of the most neglected segments of the economy despite its proven importance in GDP. “It also needs your immediate attention”, he said and added that the local small industrial estate is also in shambles. He mentioned the need to construct an expo centre and said that date was finalized for its stone laying ceremony which was deferred due to the political change.

Atif Munir said that the industrial sector was booming with hundred percent capacity and investors were planning to expand their units. “They had imported new machinery but it is still laying unutilized due to the prevailing slump in the economy”, he said and added that 70 percent of our domestic industry has also been closed down but no one is paying any heed to this national and fundamental issue which may trigger industrial unrest due to massive retrenchment.

Copyright Business Recorder, 2022


Comments are closed.

Political, economy uncertainty affecting businesses: FCCI

Pakistan seeks support from Bank of China to bring back macroeconomic stability

Pakistan receives $500mn from AIIB: finance ministry

Submarine cable disruption hits Pakistan's internet services

Ten terrorists killed in gun battle with security forces in Balochistan: ISPR

Gen Qamar Javed Bajwa hands over baton of command to Gen Asim Munir

Rupee remains stable at 223.95 against US dollar

ECP spokesperson sacked over statement regarding dissolution of assemblies

Hina Rabbani Khar meets interim Afghan government leadership on one-day Kabul trip

Oil jumps on hopes for easing of China’s COVID controls

Islamabad court extends Azam Swati’s remand for 4 days