Federal Minister for Finance, Revenue and Economic Affairs, Asad Umar said that the purpose of the mini-budget is to remove obstacle and improve ease of doing business. Presiding over a meeting with business community during his first visit to Korangi Creek Industrial Park (SEZ) to review the progress and pending issues, he promised quick resolutions of the issues and assured reconstitution of National Industrial Park (NIP) board in due course.
Furthermore, he said that the purpose of the mini-budget was nothing but to remove obstacle and improve ease of doing business and added that the recent ranking of ease of doing business in Pakistan had improved significantly. The meeting was attended by Azeem Uqaili, CEO SEZA Sindh, Zubair Chayya CEO KITE, Shahid Ghoury, Chairman KCIP standing committee and members of standing committee.
Ghoury highlighted the issues of power, non-execution of sublease and excessive charges being imposed by the Cantonment Board, Korangi, Creek which was rendering industries in KCIP in-competitive. The participants requested the minister to look into these matters urgently and committed if these issues were tackled, 80 industries would go into operation in the next few years and this zone could be a bench mark for other economic zone in the country.
Muhammad Amin, member standing committee highlighted various issues in taxes and administrative matters, slowing down process of industrialization. Rasheed Chuhan, member standing committee, highlighted issues related to slow approval from the State Bank of Pakistan.