Industry Wants Level-playing Field To Compete Regional Countries Instead Of Relief: FPCCI

Industry wants level-playing field to compete regional countries instead of relief: FPCCI

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) newly-elected President Mian Anjum Nisar has announced to work with the government to resolve all issues of the business community for revival of growth momentum and enhancement in exports by ensuring ease of doing business in the country

Lahore (Pakistan Point News / Online - 15th January, 2020) Federation of Pakistan Chambers of Commerce and Industry (FPCCI) newly-elected President Mian Anjum Nisar has announced to work with the government to resolve all issues of the business community for revival of growth momentum and enhancement in exports by ensuring ease of doing business in the country.Addressing a grand reception hosted by the Pakistan Industrial and Traders Associations Front in his honour, Mian Anjum Nisar observed that now the FPCCI, being an elected representative of Pakistan's businessmen, would work with the government as an economic partner, reshaping its role with a view to facilitate the trade and industry.

The PIAF Dinner Reception was also addressed and participated by Punjab Governor Ch Sarwar, Punjab Assembly Speaker Ch Pervaiz Elahi, PIAF Chairman Mian Nauman Kabir, senior vice chairman Nasir Hameed, vice chairman Javed Iqbal, LCCI president Irfan Iqbal Sheikh and a large number of business community from all provinces of the country.Mian Anjum Nisar demanded the level-playing field not only for the exporters but also for the domestic industry, which cannot compete with the regional countries amidst gigantic markup rate and high energy prices.

"Industry doesn't want any help or relief from the government rather we want level-playing field for the competition with China and India where markup rate is 4% and 5% against Pakistan's interest rate of 13.25% while power tariff is around 8 cents/kWh as compared to Pakistan's electricity tariff of 15 cents/kWh."FPCCI President discussed in detail the economic outlook of Pakistan and plan of activities for the year 2020. He highlighted the problems faced by business community including delay in refunds, halting economic activities to a great extent.

He said good working environment will enhance the capacity of our industry enabling them to compete internationally.Punjab Governor Ch Muhammad Sarwar, addressing the ceremony, said that economy cannot run with high markup rate and expensive energy. He, however, said that things are now moving towards right direction and now Pakistan is looking forward to promote exports besides protecting domestic industry and trade. He said that the government would bring about economic revolution in the country. He said that duty-free access to Pakistani products to the Chinese markets under second phase of FTA was a conspicuous achievement of the government on economic front. He was of the view that market and products diversification is the best method to boost exports.