February 08, 2017
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 business community back efforts of the Prime Minister Nawaz Sharif to revive the economy.
The economy continues to improve and many international institutions have also lauded the economic policies of the government, he said.
Mian Zahid Hussain said that CPEC is changing the economy of Pakistan and it will soon attract the investors from across the globe.
He said that supply of energy has been enhanced to the industrial sector which the export sector is also gaining strength due to various steps of the Prime Minister.
Prime Minister Nawaz Sharif is serious about boosting exports through incentives and improved supply of energy, he said, adding that ten thousand and five hundred megawatt of electricity in the national grid within two years which will push the economy is right direction.
Similarly, he said, the recently announced export package and other moves have reduced cost of doing business for the export sector which the confidence of investors is improving.
The business leader said that economic stability has been achieved through good economic policies and the GDP growth had averaged more than 4 per cent during the last three years which is highest in eight years. But Conventional Lethargy and Incompetency of Export Managers is detrimental which should be removed as well.
He said that exemption of textile raw material like from duties will bring down cost of doing business and boost exports while the move speaks about the interest of the Prime Minister Nawaz Sharif in boosting economy.
Government has announced zero rated sales tax on the import of machinery other than the locally-manufactured ones and the sales tax incentive is also available on the import of raw cotton which is laudable.
