Revival business, industry in KP
\n PESHAWAR
\nPresident of the Sarhad Chamber of Commerce and Industry Fuad Ishaq demanded 20 year concession on electricity, gas rates and exemption of income and sale tax and provision of lands on subsidized rates for setting up industries to revive trade and economic activities and bring prosperity, stability and progress in Khyber Pakhtunkhwa.
\nThe SCCI chief called for provision for facilities to investors under a one-window operation.
\nHe emphasized the need for giving due rights of KP on electricity, gas that would help in business and industry growth and setting up new industries, consequently opening new avenues of employment for many people in the province.
\nFurthermore, urged bureaucracy should play a role in removal of business community miseries and issues by enforcement of viable and concrete policies.
\nFuad Ishaq was speaking to members during the visit of a 12-member probationary officer of the Special Training Program (STP) at the chamber house here on Wednesday which was led by Pakistan Institute of Trade and Development (PITAD) Director Dost Muhammad.
\nApart from the SCCI vice president Ejaz Khan Afridi, members of the chamber executive committee Javed Akhtar, Haji Ghulam Hussain, Muhammad Ismail, and Acting Secretary General Muqtasid Ahsan, a large number of traders, industrialists, importers and exporters were in presence in the meeting.
\nDetailed briefing through a multimedia presentation, highlighting the origin of the chamber, its aim and objectives, important initiatives, role of the SCCI in resolution of the business community issues, business and industrial growth, and future plan and programs, was given on the occasion.
\nKeeping in the prevailing scenario, Fuad stressed signing on charter of economy and proper consultation with chambers, traders and relevant stakeholders to put the economy on the right track.
\nHe said businessmen in Khyber Pakhtunkhwa are faced with hardship owing to faraway from the seaport.
\nHe, however, said KP has been blessed with natural resources which is a net exporter of electricity and gas, despite the fact that provinces were being charged equal rates with other federating units, which is totally unfair and unjustifiable.
\nThe SCCI president said KP is producing 6500 megawatt electricity in which 2700 megawatt is utilized in summer and only 1100 megawatt in winter season, rest of the produced electricity exported to the national grid.
\nKP total oil production is 31000 barrels per day, which is 42 percent share of the whole country\u2019s oil production, Fuad said.
\nHe suggested the establishment of an oil refinery in Khyber Pakhtunkhwa wherein oil reserves were available in surplus quantity.
\nSimilarly, he said total gas production of Khyber Pakhtunkhwa is 615 MMCFDs against its demand of 200MMCFDs and rest of 415 MMCFDs were been given to the national grid if the 200MMCFDs were fully supplied with proper gas pressure to KP so the gas issues would be resolved.
\nHe added industries were only utilizing 35MMCFDs gas.
\nHe added that the rate of 200 MMCFDs to KP were also charged equal to other provinces, even though KP has put into basket of RLNG, which is totally unjustifiable and unfair. He added that the industry and business cannot be run on these high charges.
\nIn Khyber Pakhtunkhwa, Rs3900\/MMBTU gas for commercial consumers and Rs2700\/MMBTU gas for industrial consumers while fertilizer sector was provided gas at low cost in major provinces, Fuad added.
\nThe SCCI chief demanded advantages to KP from the \u2018One belt One Road Initiative of China.
\nResponding to a question about border trade, Fuad Ishaq said mutual trade volume between Pakistan and Afghanistan stood at $3billion back in 2013-14 that now came down at $500 to $800 million, according to some rough estimate.
\nHowever, he revealed Pak-Afghan trade volume has almost touched $7billion mark as per unofficial data.
\nTalking about hydel, nuclear and thermal power, Fuad said all these resources expenditure is only Rs11 per unit but due to inefficiency of power distribution companies, thieves and growing line losses, Rs23 per unit has been increased in it, calling for steps for its eradication at government level.
\nEmphasizing the need of broadening tax-base through reforms, the SCCI chief said according to rough estimates, nearly 30million people were paid various taxes in which salaried class also included and it is quite visible that only 120,000 members of the business community were paid over Rs 1 Million taxes every year.
\nHe mentioned that from 30 to 32 billion dollars through human resources were official and the same figure amount was unofficial in the shape of foreign exchange. He called for provision of loans on easy terms to entrepreneurs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Revival business, industry in KP PESHAWAR President of the Sarhad Chamber of Commerce and Industry Fuad Ishaq demanded 20 year concession on electricity, gas rates and exemption of income and sale tax and provision of lands on subsidized rates for setting up industries to revive trade and economic activities and bring prosperity, stability and progress […]<\/p>\n","protected":false},"author":2,"featured_media":408775,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-408752","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n