Policymaking: FPCCI says govt should take it in confidence

KARACHI: President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh has said that the government should adopt a policy of taking FPCCI, which is the apex body, into confidence in economic policy-making.

Speaking at a press conference on burning national issue of net metering and EFS, he welcome the Prime Minister’s announcement of a review of the change in the net metering policy.

He said that trade and industry need urgent support to meet export targets.

Senior Vice President, Saquib Fayyaz Magoon said that the government should stop thinking like net billing instead of the original spirit of net metering.

He said that the aim of net metering is unit-to-unit exchange at Rs. 27 per unit.

He recalled and said that in the previous budget Injustice has been done by excluding local industry from the Export Facilitation Scheme.

He said that ginning and spinning mills are closing and cotton production is falling rapidly but it is not being sold either.

Vice President of FPCCI, Nasir Khan said that the government is charging Rs. 30 per unit in duties and taxes.

He pointed out that they had a 7-year agreement with the government on net metering, but the government switched from net metering to net billing without informing us.

He said that the industry should be supported throughout Pakistan and only targeted subsidies should be given.

Copyright Business Recorder, 2025