Federal Commerce Secretary vows to uplift Korangi Industrial Area

Federal Secretary Muhammad Younas Dahga has announced to take steps for the betterment of infrastructure and beautification in Korangi Industrial Area (KIA) soon. He was talking to a meeting arranged by Korangi Association of Trade & Industry (KATI) on Monday. He said that that first time investment policy would be the part of Trade policy. He told that deteriorating environmental conditions is now threat to our industry and exports, to come up with 5 treatment plant in Karachi’s industrial areas will be established with Rs. 13 billion grant.

On this occasion Petron in Chief of KATI SM Muneer, President KATI Tariq Mali, SVP Salman Aslam, VP Junaid Naqi, head of KATI’s standing committee on Export & Trade Gulzar Firoz, SVP FPCCI Mazhar A Nasir, VPs Zahid Saeed, Haleem Tariq, former presidents of KATI Masood Naqi, Zubair Chhaya and others also expressed their views.

Federal Secretary said that to fight back decreasing exports working is underway since months. He said that to make Prime Minister’s Package for exporters more effective and workable numbers of suggestions and proposals are under consideration. He told that initially duty drawbacks were to be released in August but now these are available from January of this year. He said that industrial stats shouldn’t look as dumping yard, measures for betterment in infrastructure and beatification in Korangi Industrial Area would be taken soon.

Prior to this Petron in chief of KATI SM Muneer said that in current economic situation exports and industry is suffering a lot. Muneer said that Prime Minister Shahid Khaqan Abbasi is making great efforts for the reinstatement of economy and give us some hope. He told that PM has promised with him to lowering down energy Tariffs for Industry in a meeting. He said that PM should sped a whole day with exporters to get insight of the issues. He also reminded the long awaiting issue of delay refunds payment of refunds. President Tariq Malik welcomed the federal secretary and briefed him about KIA and other issues faced by industry. He said that SMEs and entrepreneurship were neglected in economic policies. He said that import policy should be revisited to help industry and exporters and unnecessary imports should be restricted to save foreign exchange.

Head of KATI’s Standing Committee on Exports & Trade, Gulzar Firoz said that federal government collecting billons of rupees annually and charging 0.25 pc under the head of EDF, despite this exports were not progressing. He also suggested to declare next two years as “Export Year”. Gulzar said that tax rate in Pakistan is 11 pc higher than other countries of the region to decrease production cost taxes should be cut down half. He also suggested to revoke or at least half withholding tax on industry.

Federal Secretary Younas Dhaga, while responding to questions by industrialist, said that effective EDF investments is a much needed. He said that adviser to PM on Finance has indicated that refunds issue would be resolve soon. A large number of Industrialists and member of business community were present in this meeting.

Photo Caption: President KATI Tariq Malik presenting shield to Federal Secretary Muhammad Younas Dahga. At the occasion SM Muneer, Mazhar A Nasir, Haji Naseem ur Rehman, Gulzar Firoz, Zubair Chhaya and Salman Aslam also seen in the picture.

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