Government playing key role in earning foreign exchange: minister

The government is fully aware of the importance of trade and industry as it plays a key role in earning precious foreign exchange for the country, said Sheikh Alauddin Provincial Minister for Industry, Commerce and Investment.
Addressing the business community in Faisalabad Chamber of Commerce and Industry (FCCI) here yesterday, he expressed concern over the increasing trade deficit and said that it is not only detrimental to the economy but is also hazardous for our sovereignty.
Lauding the role of FCCI members in earning precious foreign exchange, he said that they are doing a great service to the nation and country. He also prayed that may Allah give guidance to the elements who were involved in the illegal flight of foreign exchange.
Underlining the importance of trade and industry in overall national economy, he said that government is doing its best to resolve the problems confronted by the trade and industry as through it we could earn much needed foreign exchange in addition to creating new job opportunities for our growing population.
Responding to various problems, he requested the industrialists to identify their core issues along with their immediate solutions so that government could resolve the same without any delay.
Commenting on the demands of declaring industrial clusters as notified industrial areas, he said that this demand is very genuine and he will take it up this issue at provincial level so that necessary development projects could also be launched in these areas under his ministry. Commenting on the problems of environment and PRA, he requested the business community to specifically identify their issues in black and white for their immediate solution.
Regarding sick industrial units, he also assured full support and said that he will take Chief Minister into confidence over this issue in addition to talking to Governor State Bank of Pakistan for a workable bale out package for these sick industrial units.
Earlier, in his address of welcome, President Faisalabad Chamber of Commerce and Industry Engineer Muhammad Saeed Sheikh said that FCCI is representing the entire business community of Faisalabad. He said that Karachi is reported as number one in revenue generation but if the revenue paid by entities based in Faisalabad with its head office in Karachi is accounted in the heads of various provinces and cities then Faisalabad will certainly become number one in revenue generation. He said that despite of economic slowdown the Faisalabad was also contributing 38 percent share in employment generation.
He thanked the government and Pakistan Army for improvement in overall law and order situation in the country and said that Prime Minister Nawaz Sharif also deserves appreciation for uninterrupted power supply to the industrial sector. He said that the expected GDP of 5.5 percent is easily achievable if the remaining issues confronted by trade and business community are resolved without any further delay.
Engineer Muhammad Saeed Sheikh also demanded declaration of five industrial clusters into notified industrial areas. He said that government should also take necessary measures for the revival of the sick industry. He also pointed out problems relating to environment and PRA.
Later, a question answer session was also held in which former president FCCI Chaudhary Muhammad Nawaz, Syed Zia Alamdar Hussain, Haji Sanaullah Niazi, Haji Talib Hussain and Shahid Bajwa raised interesting questions.
SVP Rana Sikandar Azam offered vote of thanks while President Engineer Muhammad Saeed Sheikh presented FCCI shield to Sheikh Alauddin. Similarly, VP Engineer Ahmad Hassan also gave away a memento to the provincial secretary Mujtaba Paracha.