LAHORE, June 16: Acting president and Senate chairman Muhammedmian Soomro has said that the government and the business community have to work together for creating employment opportunities.Speaking as the chief guest at the Lahore Chamber of Commerce and Industry Achievement Awards ceremony at the Fortress Stadium Exhibition Centre here on Friday, he said that infrastructure development and energy sectors were important for the government to facilitate economic growth.

He said that competition was getting more intense in the business with the passage of time. Competition existed not only in the world market but it also existed for share in the domestic market, he said.

He said the country had made tremendous progress since independence. It had only a few industrial units at the time of independence but had all kinds of industry at present due to the efforts of the business community.

He said that technology and energy sectors required maximum attention. The tax rates required to be made unambiguous, tax rates rationalised and irritants removed.

Chamber President Mian Shafqat Ali said that energy security was critical to the growth of economy as gas reserves were going to last for only 15 years. The country would require 35000 MW of energy by 2013 against the existing installed capacity of 17793MW. The business community welcome increased attention to agriculture and allied sectors in the federal budget but manufacturing sector in general and textile sectors in particular required attention because it contributed 64 per cent to exports.

He said that the government plan for providing relief to the people in the form of subsidy on pulses and sugar was commendable but a greater reduction was possible in prices of essential commodities through reduction in high General Sales Tax.