Karachi (PR): The first meeting of FPCCI’s Standing Committee on Industrial Promotion and Facilitation was held at the Federation House, Karachi under the chairmanship of Mr. Abdul Shakoor Khatri. The attendees included Mr. Haroon Rashid, Vice President FPCCI; Mr. Dawood Uman Jakhura, Mr. Sami Khan, Mr. Ajaz Mahmood, Mr. Aftab Hashmi, and Mr. B.H. Qureshi.
The meeting was initiated with discussion about the problems faced by the Textile sector and all other industries in Pakistan today. Participants pointed out that in view of our present economic situation, it was the need of the hour for all stakeholders to unite and work together to resolve these issues. It was noted that one of the major factors hindering development of the industrial sector was the high rate of interest, which holds back investment activity. There was need for strategic planning to be carried out in the field of small and medium enterprises. It was further discussed that the severe energy crisis, the poor law and order condition and the trend of extortion money was adversely affecting the industrial sector of Pakistan . It was suggested that a delegation of prominent industrialists led by the President of FPCCI be constituted to meet the Federal Minister for Interior and also invite him to visit FPCCI to discuss the prevailing law and order situation. It was further discussed that FPCCI‘s Executive Committee may arrange a bank schedule and decrease interest on import @ 5%. Industrialists should ask the Federal Government to initiate new mega-projects to create employment for downstream industries. Another issue discussed was related to the checks and balances system in the Customs Department. It was suggested that industries like the Steel Mill, Railway, WAPDA and PIA may be privatized for their revival.
Shaikh Haroon Rashid, Vice President FPCCI thanked all the participants for attending the meeting and giving their contributions. He further added that the prevalent political situation may have disturbing consequences for the country. The government of Pakistan should revive industrialization in order to curb the problem of rampant unemployment.