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Industrialists meet PM’s Advisor, Punjab trade minister - Inside Financial Markets

Industrialists meet PM’s Advisor, Punjab trade minister

– Associated Press of Pakistan

Industrialists and businesspeople of Punjab called on Advisor to Prime Minister on Trade and Investment Abdul Razaq Dawood and Provincial Minister for Industries and Trade Mian Aslam Iqbal, here at Civil Secretariat on Saturday.

Problems facing industrialists, industrialisation and other issues were discussed during the meeting.

Provincial Minister Mian Aslam Iqbal gave a detailed briefing on promotion of industrialisation in Punjab and government’s future strategy.

Talking to industrialists, Abdul Razaq Dawood said, “I am the representative of industrialists in Islamabad and I will help solve all their genuine problems.”

He said that duty on import on raw material for industries was being reduced by six per cent from January 1, 2021. The reduction of import duty on raw materials will benefit the industry. He said that industrialists should give suggestions for long-term planning of industrialisation.

State-of-the-art testing lab should also be established, he said and suggested that it should be given the status of an industrial estate where industries are located so that industry could take benefit.

Dawood said that business community should take benefit of the government’s temporary economic refinance facility for importing machinery and the scheme of the federal government worth Rs 100 billion would continue till March 31, 2021.

Provincial Minister for Industries and Trade Mian Aslam Iqbal said that mapping had been done in collaboration with urban unit for setting up new industries in Punjab.

New economic hubs will also be made in the province. He said that for the first time in the history of Punjab, four special economic zones are being set up in the private sector. The new cement plant would bring investment of Rs 6 billion.

He mentioned that 2,033,000 children have been enrolled in TEVTA institutions for technical education, he added. Mian Aslam Iqbal said that inspector less regime has been prepared and will be introduced soon. New industrial estates are also being set up throughout the Punjab, he concluded.

Secretary Industries Wasif Khursheed, Chairman PIEDMC Nabeel Hashmi, President Lahore Chamber of Commerce and Industry Mian Tariq Misbah and presidents of other chambers of the Punjab were also present.

Syed Zaki Hussain

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