Published On: Wed, Jan 8th, 2014
Published in Category: Karachi

Vice President SAARC CCI hails government’s policies

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KARACHI: Former President FPCCI, Co-Chairman Businessman Panel and Vice President of SAARC Chamber of Commerce and Industry, Iftikhar Ali Malik has expressed confidence that the present government policies moving in right direction.

Speaking at his birthday with business community, he lauded the economic direction of the government terming it encouraging in the present circumstances.

He said that the govt policies gave a new hope to the nation in general and the business community in particular as the people both in the country knew well that the situation would take a positive turn in the year 2014 and polices will bring economic revival.

He said provision of natural gas to the export-oriented textile industry in Punjab will help country benefit from the recently awarded GSP plus status to Pakistan, it said. Government should try to fulfil all the energy needs to the export-oriented industry to fully benefit from the trade discounts amid chronic energy shortages.

He also studied the operations of various chambers, trade bodies and associations in the both countries and exchanged views with the trade officials.

Malik said that the decision to provide gas to industry in Punjab will save jobs, provide employment to many and help Pakistan improve the forex reserves through exports.

He called upon the industrial units benefitting from trade concessions to upgrade their plans and boost capacity.

He said polices are expected to gave a great boost to the confidence of the business community as the steps announced by Nawaz Sharif were quite in line with the private sector demands.

To me the establishment of Prime Minister Business Advisory Council and Prime Minister Agriculture Advisory Council are the most important decisions as these councils would not only help improve economic conditions in the country but give proper direction to the economy in coming days and months.

He said the decision to establish Business and Agriculture Advisory Councils is enough to make the point that the Prime Minister believes in collective wisdom instead of taking a solo flight to destination.

He said that the government was pledge to further improve relation with neighbours is a step in right direction and would pave way for increased regional trade and would definitely discourage smuggling and trade via third country.

Malik said that PM’s youth loan scheme will boost economic activity as young are fully capable to produce results if they are provided opportunities.

He said that promise of Finance Minister Ishaq Dar to ensure greater clarity is encouraging as economy cannot prosper in absence of transparency. The improved performance of the stock exchange is reflective of the policies of the government which must be sustained.

He said that PM’s resolve on law and order, terrorism, sectarian violence, situation in Karachi, relations with India, energy crisis, weak economy, non-resident Pakistanis were encouraging for the business community.

Malik said that audit exemption to honest businessmen was a long standing demand of the business community for expansion of tax-net and I think the Prime Minister has done a great job to this regard.

He said taxpayer recognition cards to top taxpayers, with an entitlement to use VIP lounge at airports, get fast-track immigration and gratis passport, increase baggage allowance from $500 to $5000 have no parallel in country’s taxation history.
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