PSMA Punjab chief says govt required to play the role of ‘facilitator’ for industry

LAHORE: Pakistan Sugar Mills Association (PSMA) Punjab Chairman and leading industrialist Chaudhry Zaka Ashraf has urged the government to play role of a ‘facilitator’ for the industry so that the goal of sustainable economic growth could be achieved.

“The country’s industrial sector is facing many issues mainly due to multiple taxation and strict regulatory framework; if we want to move towards industrial revolution, the government must facilitate the industrialists and bring ease in their businesses,” he said while talking to the Business Recorder at the sidelines of the Pre-Budget 2024-25 conference organized by the FPCCI and the Business Recorder at a local hotel.

Zaka maintained that the private sector is the backbone of any economy and nations move forward with the growth of their industrial sector; we need to strengthen the base of our industrial sector so that it can move freely for growth in a real sense.

Expressing high hopes with the country’s current economic team, he expressed optimism that the government would announce measures in the forthcoming budget that would help the industrial sector to grow in a real sense. “When the industrial sector grows the national economy moves forward speedily and apart from contributing to the national economy, it provides jobs to the unemployed people,” he said.

Zaka further said that the government needs to examine the core issues facing the industry sector and subsequently, address them to achieve the goal of industrial development. He called for a policy framework that could lead towards the betterment of the economy.

Meanwhile, a meeting of representatives of the Sugarcane Research and Development Board and the National Bank of Pakistan was held under the chairmanship of Ch. Zaka Ashraf, here on Monday. The meeting deliberated on developing the sugarcane mechanization farm. It was also discussed to take steps to help farmers curtail the expenses on the plantation of sugarcane through farm mechanization and increasing per acre yield.

The meeting was aimed at strengthening the farmers, by making a business model of agriculture and agro-based economy and increasing their income and efficiency, which will play a pivotal role in the development of the country as well. The meeting was also attended by M. Ikram Ullalh Qadri, Divisional Head NBP and Adnan Manzoor, Wing Head ABD, NBP and Sohail Shehzad, Secretary General, Pakistan Sugar Mills Association.

Copyright Business Recorder, 2024