KARACHI, Dec 20: Pakistan Muslim League chief Nawaz Sharif on Tuesday assured industrialists that under his party’s manifesto, the corporate and income tax would be slashed to 10 per cent, duty on imports would be reduced and revenue collection would be enhanced by expanding the tax net and bringing improvement in the collection system.

He stressed the need for consensus on long-term economic agenda for 25 years to ensure consistency which is must for progress and industrial growth in the country. Nawaz Sharif said no matter who wins elections, economic security and foreign policy agenda should not be disturbed.

The PML (N) chief was speaking to All-Pakistan Textile Mills Association (Aptma) members who had assembled to hear him and know about his future plans and economic policies.

Some Aptma members expressed concern over power and gas shortages, particularly in Punjab.

Nawaz Shrif responded that his party was in the process of making an energy bill which would soon be tabled in the National Assembly.

He said during his meeting with Pakistan Business Council (PBC), the issue was raised and it was decided that the energy bill draft be prepared to table it in the parliament.

Nawaz Sharif asked Aptma members to approach Mamnoon Husain, former governor of Sindh, for such issues and his party would try to pressure the government to resolve them at the earliest.

He regretted that Pakistan, being the fourth largest cotton producer in the world, is only having two per cent share in world textile trade which stands over $800 billion.

The PML (N) chief said that the economic policies and development projects initiated by him twice suffered as his governments were removed, damaging consistency in his economic policies and infrastructure development.

These economic and investment policies, he said, were later adopted by India and have now achieved remarkable economic growth.

He said that his government’s past performance is supportive of his achievements, and added that when Lahore-Islamabad motorway was being built, there was a lot of criticism, but today, everybody is benefiting from it.

Similarly, he said, during his tenure he built Karachi and Lahore airports, Karachi-Gwadar coastal highway and was on way to build Peshawar-Karachi motorway.

He said that green channel was also introduced at customs for Pakistanis returning home.

Prominent among those present on the occasion were chairman Aptma Moshin Aziz, chairman (South zone) Yasin Siddik, Nadeem Maqbool, Shehzad Malik, S M Muneer, Tariq Saud, Bashir Ali Mohammad, Anwar Tata, Enam Elahi. Nawaz Sharif was accompanied by Mamnoon Hussain, Abdul Qadir Baloch (MNA), Zafar Iqbal Jagghra, Parvez Malik, Ghous Ali Shah and Ehsan Iqbal.