RAWALPINDI: Promotion of trade must continue in one form or another despite the economic situation of the country.

This was pointed out by president of Rawalpindi Chamber of Commerce and Industry (RCCI) Nadeem Rauf on Thursday.

The basic aim of the jewellery exhibition that will be held at the end of May at a local hotel is to encourage local traders and industrialists to look into the non-conventional sector like the gemstone business, he said, adding all political parties should sign the charter of economy. Mr Rauf was also accompanied by Group Leader Sohail Altaf, chairman of the exhibition Fayyaz Qureshi and Sheikh Asif Idrees.

He said that India’s annual gems and jewellery exports amount to more than $40 billion while in Pakistan it is only close to $24 million.

Mr Altaf said that the business community is deeply concerned over the current economic and political uncertainty. He appealed to all political parties to think of the country beyond political affiliation, adding the dollar is out of control, the stock market is stagnant, no clear direction has been given by the government yet and if tough decisions are to be taken regarding petrol, diesel or the International Monetary Fund (IMF) then they should be taken immediately so that all uncertainty ends.

Mr Qureshi said more than 50 stalls will be set up in the exhibition whereas people from all over the country are participating. Conference and other meetings have also been arranged.

“Incentives should be given for the gemstone sector, tax exemption should be given for establishment of modern machinery and testing laboratories. An expo centre should also be set up in Rawalpindi and Islamabad,” he said.

Published in Dawn, May 13th, 2022