Punjab Board of Investment and Trade outreaches Faisalabad Chamber of Commerce and Industry
Lahore, May 25, 2016 (PPI-OT):In pursuance of the comprehensive plan to redress the impediments faced by the local businesses, a team comprising of the Chief Executive Officer and sector experts from Punjab Board of Investment and Trade visited the office of Faisalabad Chamber of Commerce (FCCI) today.
Ch. Muhammad Nawaz, President FCCI appreciated Punjab Government’s and particularly Chief Minister’s efforts to enhance trade and investments in the region with special focus on Special Economic Zones and urged PBIT to extend its One Window Facilitation services in Faisalabad through FCCI. He said that “Channelization of domestic investments offer significant returns for Pakistan and should be targeted”.
SVP FCCI reiterated Government of Punjab’s efforts in form of GSP Plus status, improving security situation, provision of electricity to industries and supply of LNG to industrialists in Faisalabad. He added that “Zero rating of textiles sector, ease of doing business especially in relation to taxation system, environmental protection, registration and inspections can trigger private sector investments”. He further pointed out that “Inputs and frameworks need to be rationalized at par with regional economies to make Pakistani exporter more competitive”. He requested PBIT’s facilitation on emerging matters that FCCI will communicate in writing to PBIT.
Ms. Amena Cheema, CEO PBIT, thanked participants and requested more interactions between Government and private sector. She explained on plans of PBIT for developing SMEs in Punjab and JVs of local firms with foreign firms. She sought support from private sector especially in relation to revival of non-viable / sick units in textile sector.
CEO PBIT offered maximum facilitation in all areas that are hampering growth. She also stated that “Government has invested heavily in energy and road infrastructure in recent years that will start bearing fruits soon”. She requested businesses to come forth and partner with PBIT in marketing Punjab all over the world. She assured the business community that one window facilitation will be extended to all industrial locations by reducing procedures, costs and time for approvals, filings and reporting.
Participants also discussed matters related to China Pakistan Economic Corridor, Faisalabad Multan Motorway, setting up of help desk, developing industrial clusters for SMEs, enhancing competitiveness, jobs creation and skill development. Members of FCCI appreciated Punjab Board of Investment and Trade’s initiative to outreach FCCI to connect with the local businesses. Ch. Muhammad Nawaz, (President FCCI), Zia Alamdar Hussain (SVP FCCI), executive committee members and high ups of some leading companies of Faisalabad were also present.
For more information, contact:
Punjab Board of Investment and Trade (PBIT)
23-Aikman Road, GOR-I, Lahore