Putting up an Industry in Pakistan especially in Karachi has become almost impossible because of exorbitant land prices, dilapidated infrastructure, and paucity of Utilities like Power and Gas. We see no headway from current Federal and Provincial Governments and what to talk of Local Government, which is missing said ateeq ur Rehman (economic & financial analyst).
No National Economic progress is attainable unless there is Industrial Growth in a country.
Whether it is large-scale manufacturing or small scale both are eminent for economic prosperity and achieving the GDP goals.
He added that on the top of everything in the recent finance supplementary bill government has imposed 17% sales tax on the import of Plant & machinery which makes capital expenditure more expensive then before in putting up new Industries whether large or small.
Since we are facing a serious energy crisis in terms of high cost in tariff of electricity, gas and petrol the solar and wind power plants are the alternate solutions for overcoming the energy requirements of an Industry. The federal government has removed tax exemptions on the Imports of solar panel and its allied products in mini-budget and imposed a 17% sales tax on the import of it. This is discouraging for putting up new industries said ateeq.
Further, extremely low gas pressure and frequent unavailability of It is creating problems for the current Industrial Areas to run the existing mills and fulfill their Export Commitments well in time. Therefore the question of putting up new Industries does not arise.
The denial of facilities for putting up new industries is a great challenge and the authorities and responsibilities are needed to seriously look into the matter so that we can put up new industries and attain our industrial growth, check unemployment and contribute in the economic growth of Pakistan.
