President of Korangi Association of Trade & Industry Masood Naqi has showed concern over expending trade deficit to the record level of 20 billion USD during current fiscal year. In a statement released by KATI Masood Naqi said that although Federal Government announced two packages for the revival of export industry but due to unaddressed root causes of down sliding exports nothing worked effectively.
He mentioned that during previous tenure all business, trade and banking activities brought in under heavy taxes, while increasing surcharges on gas and electricity , together causing heavy cost of production and doing business. Naqi said that underdeveloped industrial infrastructure and in absence of smooth business environment, industry is suffering. He said that governments of federal and provincial levels should craft a long term strategy to energize industry for a better competition in international market. He also urged to define policy lines in upcoming budget to control cost of doing business in the country.
Caption: Minister for state & chairman board of investment Miftah Ismail & President FPCCI are presenting best exporter award to MD Mehran Commercial Ghazanfar Ali Khan in reception given by PAAPAM.