The government implements its economic stability program: Dawood


SIALKOT, July 17 (APP): The Prime Minister’s Trade and Investment Advisor Abdul Razak Dawood said the government was carrying out its economic stability program.

He was addressing a meeting of exporters at the Sialkot Chamber of Commerce and Industry (SCCI) on Saturday.

SCCI President Qaisar Iqbal Baryar, Senior Vice President (SVP) Khurram Aslam Butt, Vice President (VP) Ansar Puri, Chairman AirSial Airline Fazal Jillani, Chairman Sialkot International Airline Limited (SIAL) Khwaja Masood Akhtar (Sitara Imtiaz), former presidents and a a large number of members of the business community were also present.

Dawood said: “We need to focus on regional trade. We have very little interaction with the regions. EU regional trade is 90%.

Dawood said Prime Minister Imran Khan’s visit to Uzbekistan was a successful visit, during which 71 agreements were signed with Uzbekistan.

He said Uzbekistan would also prove to be a gateway for Pakistan to other countries in Central Asia.

Dawood said the preferential trade agreement (PTA) would be signed on September 30, 2021. Uzbekistan has good relations with the Central Asian republics, he added.
He said that the single country exhibition will soon be held in Tashkent, Uzbekistan to promote a wide range of export products.

He urged Sialkot exporters to participate and explore opportunities internationally.
He said the government made product exports competitive in the 2021-22 federal budget by streamlining tariff lines for more than 4,000 raw materials, accounting for about 42% of total imported raw materials.

Dawood added that a meeting of businessmen and chambers would be held after Eidul Azha with the prime minister, to set export targets for the next fiscal year.
Dawood pledged his full support in resolving all issues presented by the President of CSIC, and the export business would be made easier.

He said he would discuss EXIM Bank issues with the finance minister soon. He congratulated the Sialkot exporters for the increase in their exports.
He also appreciated the e-commerce training at Sialkot.

Dawood said economic and industrial boom was high on the government’s economic agenda, which the government was putting the confidence of the business community on.

He said that Sialkot’s exporters are playing a backbone role in strengthening the national economy.

He said the government was keeping the industrial wheel going. He said government policies would be helpful in establishing a solid foundation in the country.

He said that a strong industrial base was also vital to boost and increase domestic exports, adding that all obstacles would be removed in the way of promoting exports.

He said the government is making intense efforts to boost the national economy, in addition to removing all obstacles in its path. He said the government is fully aware of the problems of the business community and is making sincere efforts for their speedy solution.

SCCI President Qaisar Iqbal Baryar briefed the participants on the challenges facing the business world. He discussed various industry issues including imposing a 5% withholding tax on export companies due to purchases from unregistered suppliers, decreasing the discount percentage on items sport, the issue of pricing the beauty and single-use instruments industry,

release of EDF funds for the child labor elimination program, improvement of customs duty drawback regimes, single settlement of prescribed DLTL cases, creation of a branch of the EXIM bank in Sialkot, facilitation of establishment of a Business-to-Business-to-Consumer framework by the SBP, establishment of e-commerce incubation and training centers in Sialkot, permanent representation of SCCI on the Board of Directors of EDF, launch of back-to-back letters of credit for 5 export-oriented sectors.

Later, Abdul Razak Dawood visited the Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA).
Dawood assured them that all problems in the industrial sector would be resolved amicably.

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