Promises made to business community should be fulfilled, KATI urges

President of Korangi Association of Trade & Industry (KATI) Masood Naqi said that for the prosperity of country’s economy necessary measures to promote industry should be taken in time. He urged that promises made with industrialist and exporter community, as announced packages, should be fulfilled.

Masood Naqi said that billions of tax refunds are still pending, these delay is causing sever issues to industrial and export sector.

He also pointed out that many announcements were made in past regarding relief and development packages for export and industry but not been fulfilled yet. He demanded to include these packages and projects of industrial infrastructure development in budgetary allocation and should be covered with proper lawmaking process. He said that due to declining exports once again foreign reserves are being unstable and possibility is there that government would have to engage IMF again. “The only way to avoid assistance, on strict condition, by international monetary funding institutions, to make prosper our own industry and exports sector” he suggested. Masood Naqi also said that long term policy making, with the consultation of business community, is a long waited proposal from the business community.

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