LAHORE: The business community in Punjab has widely appreciated the formation of the federal cabinet, hoping that the new ministers, who took oath on Tuesday, will take the country out of the economic crisis.

“We hope that the new federal cabinet will play an instrumental role to pull the country out of the economic crisis,” said Lahore Chamber of Commerce & Industry (LCCI) President Mian Nauman Kabir in a statement on behalf of the other office-bearers of the chamber.

“The ministers have vast experience and abilities to play an important role for the economic uplift of the country,” he added.

The LCCI office-bearers said the economic growth could speed up provided a business-friendly atmosphere was ensured for the business community. They said since exports had a paramount importance in Pakistan’s economy being the main source of the revenue generation and employment creation, the government would boost this segment on a priority basis.

Talking to Dawn, Pakistan Textiles Exports Association Secretary General Azizullah Goheer said the business community considered continuation and implementation of the export/business-friendly policies by the government very important.

“First of all we appreciate the formation of the federal cabinet that has ended various misconceptions, misunderstandings or confusions among the public and private circles. Now, the government’s focus should be on the implementation and continuation of the five-year textile policy 21-25 that has given a great boost to textile exports,” he explained.

Mr Goheer said that during the last nine months, the textile exports went up to USD14.5bn and they were likely to touch a figure of USD21bn by June 30, this year, achieving the FY 21-22 textile export target.

Pakistan Readymade Garments Manufacturers and Exporters Association Chief Organizer Ijaz Khokhar said the apparel sector had a major share of around USD8bn in the total textile exports, the new cabinet should focus on implementation, continuation and maintenance of the current pace of the textile exports growth.

“We request the federal cabinet to immediately arrange an interactive session with the business community in a bid to understand their issues,” he added.

All Pakistan Anjuman Tajiran Pakistan General Secretary Naeem Mir said all the ministers, who took oath on Tuesday, were very senior and experienced and they had an understanding of the economic issues.

Published in Dawn, April 20th, 2022