Mian-Zahid-Hussain
BUSINESS

Reducing cost of doing business in export sector is vital to increase exports: Mian Zahid Hussain

KARACHI – President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said that performance of PTI lead government in the first 100 days have been better in the social sector, however, for the economic stability of Pakistan a lot of efforts are needed. The Prime Minister Imran Khan while addressing the ceremony on completion of 100 days of the government described that 18 deliverables have been completed while 14 others are in process. The most significant amongst the completed projects include tracing of illegal wealth, preparation of local government act in KP, Punjab, and ICT, Regulation for instant access to justice, the economic package for the growth of manufacturing sector, Naya Pakistan Housing Scheme and establishment of National Tourism Board.

The Veteran Business Leader while talking to the business community said that Pakistan has made mutual agreements with 26 different countries regarding sharing information and recover the looted assets if success can be highly beneficial to the national exchequer. The deliverables in the process include the integration of FATA with KPK, the establishment of South Punjab province, the transformation of Karachi, poverty alleviation, national employment scheme and development of state-owned industries. The government has successfully recovered land worth Rs. 350 billion as a result of the effective anti-encroachment drive.

The Former Minister said the successful foreign visits of the Prime Minister Imran Khan have boosted the bilateral relations with the countries including Saudi Arabia, China, UAE, and Malaysia. Inauguration of Kartarpur corridor became possible given to the successful foreign policy of the Government. Sikh visitors to Pakistan will be increased significantly, in addition, to close bonding with the Sikh community. The act is beneficial to Pakistan’s hotel and allied industries.

Mian Zahid Hussain said that in addition to claims of prosperity and growth, it is significant that the ease of doing business should be provided and investors’ trust should be restored highly to invest in the Country. A major hike in USD price is quite anxious, soon after the completion of 100 days of government. The rupee devaluation will not only affect the stock exchange, inflation, price hike of utilities but will increase the burden of foreign debts up to Rs. 700 billion.

Mian Zahid Hussain said that government should adopt trade friendly policy and concrete measures should be taken to reduce the trade deficit. Moreover, the export industry may be provided with gas and electricity on competitive rates in order to increase the country’s exports and reduce the cost of doing the business of the industry.

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