LAHORE
Punjab Governor Sardar Saleem Haider has said that the industry is poised to play a vital role in Pakistan’s economic growth, unlocking new opportunities for economic growth and driving national prosperity.
He was addressing a ceremony organized by the Ferozepur Road Industrial Association (FRIA) which was also attended by the LCCI President Mian Abuzar Shad and PIAF patron-in-chief Mian Anjum Nisar.
The governor highlighted that Pakistan’s industrial sector as a vital catalyst for economic growth, with the government actively pursuing foreign investment to unlock its immense potential and drive national prosperity.
The Punjab governor emphasized the government’s commitment to fostering a business-friendly environment, aimed at attracting foreign investors and boosting economic growth.
Sardar Saleem Haider said that industrialists are the backbone of any country’s economy, as business activities are indispensable for economic stability. Punjab Governor acknowledged the vital contributions of the business community to Pakistan’s economic progress, saying that their dedication in challenging times have been instrumental in sustaining the national economy. He assured that the concerns raised by the FRIA.
The governor said that the business community has always demonstrated unwavering commitment to the nation, even during challenging times. I do not just represent the federal government but also the business sector.
He also assured that business community’s consultations would be incorporated into the budget planning. He also acknowledged the excessive tax burden on businesses and stressed the need for revision. The government must take concrete steps to improve the business climate. We need greater efforts and a clear vision for economic progress.
While addressing the meeting FRIA Chairman Shahbaz Aslam pointed out the problems faced by the business community along with suggestions for their solution.
Shahbaz Aslam called for taking all steps to ensure a business and investment-friendly environment as it was imperative for economic progress and prosperity of the country.
Pointing out the problems being faced by the trade and industrial sectors, he stressed the need for providing a level-playing field to the business community. The government should also reduce the cost of doing business by ensuring supply of energy at concessional tariff especially for SMEs sector, he added.
The FRIA Chairman observed that in view of achieving economic growth through consistency in policies, the government will have to take solid measures to strengthen the trade and industry, especially the SMEs, saving the livelihood of millions of workers associated with the small businesses.
He observed that the successive governments should pursue the same set of objectives and try to maintain consistent policies for a long-term of at least 10 years.
The government should focus on the industrial sector in order to take the economy forward. Neglecting the industrial sector at this juncture will further aggravate the balance of payments situation, he added.
The industry leader also apprised the governor of the functioning of industrial estates in Lahore and gave recommendations for improving their structure and overall business environment in the country.
