industry
Lahore (NNI) Pakistan Industry and Traders Association Front (PIAF) Patron-in-Chief Mian Sohail Nisar, Chairman Syed Mahmood Ghaznavi, Senior Vice Chairman Mudassar Masood Chaudhry and Vice Chairman Raja Waseem Hassan have said that continuity in policies, business-friendly reforms and reduction in energy prices are indispensable for the promotion of industrial and commercial activities in the country. They said in their joint statement that energy prices in Pakistan are many times higher than other countries in the region, due to which the local industry is losing its competitiveness in the global market and export orders are decreasing rapidly, due to expensive electricity and gas, high interest rates and uncertain economic situation Industrialists and traders are facing severe difficulties, which is leading to an increase in production costs and a decrease in exports. The PIAF leaders said that the government should immediately announce a relief package for industry and trade, make the tax system simple and transparent, and provide easy financing to SMEs so that employment opportunities increase and the economy stabilizes.
The PIAF leadership reiterated its commitment that the business community will continue to provide all possible support for the improvement of the country’s economy, but for this it is necessary that the government takes practical and sustainable decisions in consultation with stakeholders. The PIAF leaders demanded that the government widen the tax net but avoid putting further burden on the already tax-paying industry and trade. The PIAF leaders expressed their determination that the business and industrial community will continue to play every possible role for the development of the country, increase in exports and strengthen the economy, but for this it is necessary that the government provides real relief to industry and trade and ensure a business-friendly environment.
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