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KARACHI: President of United Business Group (UBG) and former president of FPCCI, Zubair Tufail welcomed the federal government’s decision to create a vast industrial zone covering 10,000 acres in Karachi.

He said that the shifting of China’s industry to the above-mentioned industrial zone will provide employment opportunities to more than 20 lakh people.

It is determined to take domestic exports up to 100 billion dollars in a year, the increase in domestic exports is very necessary in the current situation and the business community is with the caretaker Federal Minister of Commerce Dr Gohra Ejaz for increasing domestic exports.

Zubair Tufail also expressed satisfaction over the arrival of remittances of 7 billion 195 million dollars by the end of 2023 and said that according to the State Bank, 1 billion 538 million dollars were sent back by the end of December 2023, while 4 billion 44 million dollars were sent back. $2 million was spent locally, while $1.215 billion was owed. In December, $160 million of funds were received, while $7 million was returned.

President UBG said that after the general elections next month, the new government will have to take measures to reduce inflation by removing economic problems.

The caretaker government’s announcement of Rs8 per litre reduction in petrol price for the next 15 days will also reduce the problems of the people.

Copyright Business Recorder, 2024

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