CPEC Industry

Businessmen Panel For A Policy To Promote Industrialization

LAHORE, (APP): Businessmen Panel (BMP) on Wednesday urged the government to devise a policy to promote industrialization for economic prosperity in the country. BMP Chairman Mian Anjum Nisar has called for revisiting country’s trade policy as country exports decline in three years, citing that even Bangladesh exports jumped from the US $ 24 billion to the US $36 billion.

He said: “We want to fully support the government’s initiatives aimed at the promotion of trade and industry, however, the government should also resolve our problems on priority.” He mentioned that chambers of commerce and trade associations should have been consulted while imposing a regulatory duty on 731 items, adding that it could increase of cost of doing business and encourage smuggling.

Mian Anjum also thanked the government for speedy completion of projects under China-Pakistan Corridor (CPEC). He also called for making (SEZ) offered in CPEC functional as early as possible so that private sector of may construct industries there. The BMP Chairman also called upon the to put in place a workable mechanism to release sales tax claims which was much needed to rotate the financial circle of the businessmen.

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