ISLAMABAD: President Faisalabad Chamber of Commerce & Industry (FCCI) Rana Muhammad Sikandar Azam has said that Prime Minister Imran Khan is serious to revive national economy on strong footings.
He stated this in a statement after attending a high level meeting held in PM house and chaired by Premier himself. It was also attended by business leaders from all over the country.
Rana Sikandar Azam said that the Prime Minister paid a patient hearing to the problems faced by the ailing economy. The Prime Minister, he said has told that he want immediate revival of economy so that his government could mitigate the sufferings of the poor in addition to accomplishing his election promises and huge development agenda.
Former President FCCI Syed Zia Alumdar Hussain and Chairman All Pakistan Cotton Power looms Association Chaudhry Muhammad Nawaz also represented the business community of Faisalabad along with Rana Sikandar Azam. They told that labor intensive power looms sector was already passing through deep crisis and owners were forced to sell their looms at throwaway price. In this situation Prime Minister assured to pay sympathetic consideration to the proposal and suggestions of the business community in order to revitalize the dwindling economy.
Rana Sikandar Azam told that processing sector was also in deep trouble after the enforcement of compulsory conditions of sales tax registration and ID card. “It has added fuel to fire which will open flood gates of unemployed”, he feared and told that there is no logic to force one sector to register when other sectors are not ready to come into the fold of tax net. They demanded that these conditions must be deferred at least for one year so that the complete textile chain could be registered.
The President FCCI said that instead of yielding positive results the economy has witnessed unprecedented slowdown hence, government and economic team of Prime Minister should sit together with business community with open heart and mind in order to resolve the core and chronic issues.
Syed Zia Alumdar Hussain told that the sluggish trends in economy have fueled the inflation which has yielded negative impact on industry, business and export.
Chaudhry Muhammad Nawaz termed power looms as back bone of textile sector which was at verge of collapse. Prime Minister individually asked various questions and told that he want economic boom through serious, pragmatic and result oriented policies.
He requested the business leaders to sit with his economic team so that an out of box solution could be evolved with consensus. Prime Minster also assured that he will consider their proposals in best interest of the nation and country.(Additional Input From INP)
