Business-friendly policies to draw investment in SEZs under CPEC: PM Khan

ISLAMABAD: Prime Minister Imran Khan on Wednesday said industrialists and businessmen should work with the government to provide relief to the common man.

The government, he reiterated, is aware of inflation in the world market and the consequent burden on people, adding that steps are being taken to protect the common man from the effects of inflation.

PM Imran Khan says steps are being taken to protect the common man from the effects of inflation

ISLAMABAD: Prime Minister Imran Khan on Wednesday said industrialists and businessmen should work with the government to provide relief to the common man.

The government, he reiterated, is aware of inflation in the world market and the consequent burden on people, adding that steps are being taken to protect the common man from the effects of inflation.

The prime minister said this while talking to a delegation of industrialists and businessmen who called on him here. He said the government and industrialists have agreed to increase the minimum monthly wage. The government is emphasising continuity of long-term policies for the development of industries and the Pakistan Tehreek-e-Insaf (PTI) had included IT and textile export policy in its party manifesto even before it came into power, the fruits of which are now clearly visible.

“Owing to business-friendly policies, the country’s ten largest companies made a profit of Rs929 billion last year and its fruits should go to the working class. The government has taken historic steps to promote investment and business that no other government has done before,” he maintained. He explained that textile exports [are set to] reach a record level of $21 billion and exports are expected to reach $26 billion next year. The prime minister said Pakistan has become the world’s fourth largest motorcycle maker.

The premier continued that exports of tractors have increased by 10% with 90% of the parts being manufactured locally while focus is on IT and textiles as well as defence manufacturing and engineering.

The prime minister said: “I am grateful to industrialists and businessmen who raised the salaries of employees at my request. It was important to consult the business community before visiting China. The government will discuss enhancing ties between Pakistani and Chinese industrialists and setting up joint ventures.”

Imran said the government is focusing on promoting small and medium enterprises which will improve the economic conditions of the middle and poor class, adding that there are ample opportunities in IT, agriculture, livestock, machinery and textile sectors to increase exports.

He said the industrialists supported the government’s business-friendly policies and passed on the benefits of increasing profits to the lower classes: The industrialists made suggestions for increasing exports, promoting small and medium enterprises, improving the tax system and visiting China.

Meanwhile, the prime minister said Pakistan values fraternal relations with China and his visit to China will be instrumental in taking the strong ties between the two countries to new heights. He expressed these views while chairing a meeting on his visit to China. The prime minister was given a briefing on the progress being made on concrete projects between Pakistan and China to enhance cooperation in the fields of CPEC, Special Economic Zones, Investment, Trade, Information Technology and Agriculture.

The meeting was attended by Federal Ministers Shaukat Tarin, Fawad Chaudhry, Asad Umar, Hammad Azhar, Trade Adviser Abdul Razak Dawood, Minister of State Farrukh Habib, National Security Advisor Dr Moeed Yousuf, Army Chief General Qamar Javed Bajwa, Special Assistant Shahbaz Gill and Khalid Mansoor.

Chief of Army Staff (COAS) General Qamar Javed Bajwa told the businessmen that there are “vast opportunities in the defence manufacturing sector that can be exploited via public-private partnerships”.

“For the development of the country we will fully support the implementation of government policies,” remarked the army chief. Leading industrialists Saqib Shirazi (Honda Atlas), Ali Asghar Jamali (Indus Motors), Ghiasuddin Khan (Engro), Sikandar Mustafa (Millat Tractor), Hamid Zaman (Sefam) Shahid Abdullah (Sapphire), Khurram Mukhtar (Pakistan Textile Exporters Association), Zahid Bashir (Gul Ahmed), Azam Farooq (Cherat Cement), Khalil Sattar (K&N), Abdul Rahim and Gohar Ijaz (APTMA) attended the meeting.

Meanwhile, PM Imran said the job of government agencies is to facilitate people and address public grievances on a priority basis and the government is taking steps to improve the power transmission system in Khyber Pakhtunkhwa. “The government is ensuring the supremacy and transparency of merit in appointments in institutions. The government is taking steps on a priority basis to reduce line losses and prevent power theft,” he said after taking notice of PESCO issues in Khyber Pakhtunkhwa.

During a meeting on the issues related to the PESCO, the prime minister was briefed on the power load shedding and monitoring system, steps taken to curb power theft and shortage of manpower and new appointments in the PESCO. The meeting was informed that to reduce line losses in the PESCO, the government has prepared a comprehensive plan to improve the power transmission system, after which the supply of electricity required to meet the demand can be ensured.

Separately, the prime minister said Azad Jammu and Kashmir has a huge potential for tourism and the development of tourism and other related sectors is one of the top priorities of the government: The development of the tourism sector in the valley will improve the infrastructure and economy and create vast employment opportunities.

The prime minister said this while talking to Prime Minister of Azad Jammu and Kashmir Abdul Qayyum Niazi, who called on him here. Niazi apprised Imran of progress of ongoing development projects of the public welfare and tourism sector of the Azad Kashmir government. Imran welcomed the restoration of Accountability Act in Azad Kashmir and said that the supremacy of law and transparency in the system were essential for the development of the country.

Meanwhile, he said that because of the government’s business-friendly policies, Pakistan is currently the most suitable country for investment in industries across the region. The foreign investment in industries will not only increase employment and exports but will also enable technology transfer. “The government is ensuring the system of special economic zones on a priority basis on the Plug and Play model. For the first time in the history, the appointment of the Board of Governors and the management of the Special Economic Zones is taking into account aspects such as supremacy of merit and non-conflict of interest,” he noted.

He said this while presiding over a meeting on the Special Economic Zones here. The meeting was given a briefing on M3 Industrial Zone besides Rashkai, Dhabeji, Bostan and Allama Iqbal Industrial City. The meeting was informed that 600 Acres of land has been made available for setting up of industries in the M3 Economic Zone. In addition, work on infrastructure after power supply is in full swing.

The meeting was apprised of the steps taken by the Board of Investment to facilitate the establishment of industries for local and foreign investors. The prime minister issued instructions to ensure timely completion of all measures. The meeting was attended by Federal Ministers Shaukat Fayyaz Tarin, Asad Umar, Hamad Azhar, Fawad Chaudhry, Makhdoom Khusro Bakhtiar, Industry and Trade Adviser Abdul Razak Dawood, Special Assistants Dr Shahbaz Gill, Khalid Mansoor, Chairman Board of Investment Azfar Ahsan and relevant officials. Punjab Minister for Industries Aslam Iqbal and the provincial chief secretaries and officers attended the meeting via video link.