The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has welcomed Prime Minister Shahbaz Sharif’s meeting with businessmen and industrialists.
In a statement, Sheikh stated that without creating a competitive environment, it is not possible to increase exports. He said that other countries in the region have lower electricity rates than Pakistan, which puts us at a disadvantage in the competitive field.
He said that to achieve an increase in exports, attention needs to be given to Pakistan’s image-building at the global level. In order to facilitate industries, administrative barriers must be removed and measures such as timely energy supply and competitive rates, including tax refunds, need to be implemented.
Sheikh further stated that in Pakistan, industrialists and businesspersons pay the highest taxes. The role of industrialists and traders is crucial for economic development. Immediate steps need to be taken in consultation with stakeholders to reduce the production cost of exportable goods so that we can easily compete with other countries in the region, he added.
