Business community always stands by armed forces


PIAF calls for taking steps to control smuggling, relax import
The Pakistan industrial and Traders Associations Front (PIAF) has expressed full solidarity with the Pakistan army, warning of creating division between the military and the public, saying the business community is always standing with them.
PIAF Executive Committee member Sheikh Abdul Mannan, in a written statement issued here, observed that political stability and law and order are the pre-requisite for the strengthening of the national economy and must for the survival of the country and this hateful drive is actually aimed at creating ciaos and uncertainty in the country.
Sheikh Abdul Mannan urged the government to take more steps to control smuggling and said that Frontier Constabulary (FC), deployed at borders, should be equipped with the latest technology.
Sheikh Abdul Mannan stated that the government’s strict import policy along with high cost of doing business owing to surge in fuel cost and energy tariffs have almost halted the industrial production, as the Central Bank’s undeclared ban on imports continued to affect the business activities in the country.
The PIAF EC Member observed that the State Bank of Pakistan had announced to relax some restrictions on imports pertaining to HS Code Chapter 84, 85 and certain items of Chapter 87 but practically nothing has changed, as trade and industry continued to face hurdles in imports as well as exports shipment proceeds.
He said that the industry needs a supply chain to run the whole economy, adding that the big industries require raw material all the time. He said that the economy of Pakistan needed to boost exports for which it is important that the SBP should further relax import restrictions and adopt a more lenient import policy as many export-oriented industries have to import raw materials and intermediate goods to produce the finished products.
The State Bank’s decision severely affected the pharmaceutical, auto, plastic, mobile phone, engineering and textile industries negatively. The most concerned are those industries whose consignments have reached at the port and are being asked by the suppliers to pay the bill but the banks are still creating hurdles on behest of the State Bank. Though importers have the money but are unable to send the amount to them.
He gave a strong reaction to the recent incidents of violence, and attacks on government and military installations, calling it an attack on the integrity of the country and demanding strict action against those responsible.