LAHORE: The Punjab governor says the economy cannot improve in the presence of high markup rate and costly energy.

“Economy cannot run with high markup rate and expensive energy. However, the things are now moving towards a right direction enabling Pakistan to promote its exports besides protecting domestic industry and trade,” Chaudhry Sarwar said while speaking at a reception hosted by the Pakistan Industrial and Traders Associations Front here on Wednesday.

He said duty-free access to Pakistani products to the Chinese markets under second phase of FTA was a major achievement of the government on economic front. Mr Sarwar was of the view that market and products diversification was the best method to boost exports.

Speaking on the occasion, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Anjum Nisar announced to work with the government to resolve all issues of the business community for the revival of growth momentum and enhancement in exports by ensuring ease of doing business in the country.

“We will work with the government as an economic partner, reshaping its role with a view to facilitate the trade and industry,” he said. He demanded a level-playing field for the exporters as well as the domestic industry, which cannot compete with the regional countries amidst gigantic markup rate and high energy prices.

Published in Dawn, January 16th, 2020