(15 August, 2018)
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said that providing 50 percent subsidy on approved seeds of cotton, and 110 thousands smart phones with latest applications of information on cotton production to farmers by the Government of Punjab is appreciative and will help in achieving the targeted cotton yield for the current year of 10 million bales. Research on increased yield of cotton has carried out with investment of Rs. 350 million, which will support the target’s achievement and increase the quality of the crop.
The veteran business leader said that in the first phase of the textile package, Rs. 25.5 million has been disbursed, however, to get the maximum out of it; its circumference must be increased. Growing exports of the value added sector of the Country is vital and important for the Country’s economic betterment for which the incoming Government to take immediate measures. To improve industry and trade; improve Country’s revenue, tax net should be increased in addition to increased foreign investment. In the fiscal year 2017-18 the developed real estate sector could only contribute Rs. 23 billion which is below than 0.1 percent of the National economy.
The former minister said that the tax system should be reviewed and all national institutions should be restructured in order to make them more effective and business friendly as indicated by the prime minister to be, Imran Khan. Now it is the right time to establish a stable and economically stronger Naya Pakistan and for this purpose, China, Saudi Arabia and Turkey have given clear indication to improve bilateral trade ties between the countries. In addition to improved trade with these countries, new international markets should be found for Pakistani products. Increased trade with Turkey will get the countries more closely and will help both countries to fight the economical constraints faced by them.
Mian Zahid Hussain said that facility centers for exports should be improved and increased in order to get better prices for Pakistani products in international markets. The incoming government should strengthen trade ties with neighboring countries including Iran, India, Afghanistan, Sri Lanka, Bangladesh, Central Asian countries and European Union and FTAs should also be reviewed keeping Pakistan’s benefit in view. The assistance offered by China, Saudi Arabia and Turkey should be utilized in an effective way so that Pakistan may actually become a paradise for investors.