'Faisalabad being ignored in formulation of economic policies'

Faisalabad is one of the most dynamic, vibrant and progressive industrial hub of Pakistan which is being ignored in formulation of economic policies, said Sheikh Farooq Yusuf Acting President Faisalabad Chamber of commerce & Industry (FCCI).
Addressing the participants of 23rd Senior Management Course of National Institute of Management (NIM) Islamabad, he said Faisalabad was contributing 38 percent share in total national export in addition to 55 percent share in textile export of the country. "However, despite of this laudable performance, the exporters are being denied of their refund claims."
He identified liquidity crunch and energy crisis as the two major cause of industrial decline and said the government must resolve those issues on top priority basis. He said Pakistan is blessed with 65 percent youth of productive age which should be equipped with education and market driven skills to transform the existing industrial units into high tech factories so that its products could get a niche in international markets.
Responding to a question, he said the bureaucratic attitude of Ministry of Commerce was main hurdle in enhancing exports, adding "Toronto is a potential market for Pakistani products but our exporters could not get in time visas to participate in this exhibition in that city."
Regarding liquidity crunch, he said that lofty claims were made to pay the refund claims through much trumpeted IRIS (FBR software to keep records of taxpayers and to facilitate them in filing their tax returns.) system. He stressed a positive behavioural change in the Ministry of Commerce to address the genuine problem of Business Community without any delay.
Responding to a question about China Pakistan Economic Corridor (CPEC), Rizwan Ashraf Chairmen FCCI Standing Committee on CPEC said it was an opportunity as well as challenge and "we must upgrade quality of our products with innovative practices to face the onslaught of Chinese importers."
The participants of 23rd Senior Management Course of National Institute of Management (NIM) Islamabad asked interesting questions during the question answer session which was responded by Muzammal Sultan, Rana Sikandar-e-Azam, Syed Khalid Shah, Obaid Ullah Sheikh, Chaudhary Tallat Mehmood, Rana Ikran Ullah and Secretary General Abid Masood.
Later Dr Fahim Jehangir Khan presented memento of NIM Islamabad to acting president Sheikh Farooq Yousaf while former president FCCI Sheikh Ishfaq Ahmed also handed over FCCI Shield to Directing Staff Dr Fahim Jehangir Khan.