KARACHI, Sept 16: Prime Minister Shaukat Aziz on Thursday advised investors to set up industries keeping the export target in view and assured them that the government would provide all assistance besides market access in this regard.
Talking to an FPCCI delegation which was led by its President Riaz Ahmed Tata who called on the prime minister at the Governor House, the premier said that exports had reached $12.5 billion but still we had to go far ahead.
He said the government believed there was greater importance of local investor. He pointed out that the government is faced with many challenges which we had to cope with. He referred to the creation of new ministry of textile industry and said there was vast scope of development of the textile sector.
He pointed out that the government had chalked out a fiscal policy to provide the investors with all facilities. However, he observed that they were facing electricity and gas shortage.
"We are increasing our power production and also considering to import electricity from Tajikistan at competitive rate. Efforts are already in hand for supply of gas from Iran", the premier added.
He informed the FPCCI team that land purchase and lease system was being further improved and regulated. "The system of issuing non-objection certificate (NOC) for the lease is being simplified," he added.
He said there was great potential for housing and construction of shopping centres and hotels in Karachi while potential also existed for real estate in the domestic market, which creates new jobs.
He said a new industrial estate would be established where all infrastructural facilities would be provided and there could be public private partnership as well.
He said major industries can also set up their own power plants. Regarding market access the prime minister said the commerce ministry had been asked to appoint a trade negotiator.
Referring to SMEs the premier said that this sector had achieved a lot of progress in small cities and the government was planning to set up specific industrial estates for development of this vital sector besides creating more jobs.
He said taxes would also be reduced to speed up industrialization. "We want to facilitate the industry to help increase industrial productivity, economic progress and creation of more and more job opportunities," he added.
He told the delegation that the government was spending a lot on infrastructure development so that private sector could be facilitated to the maximum. The prime minister said that the government wanted to transform Karachi into a vibrant modern city. He said significant successes were being achieved in elimination of terrorism while law and order was being effectively tackled.
"We will have to adopt a business-like approach and there is need to have result-oriented approach," he said. He said he had given goals and target to his cabinet which he would personally review after every three months.
He told the FPCCI delegates that he would invite them to Islamabad soon and hold detailed meeting with them along with his economic team. "We need industrialization to create more jobs, to increase income and strengthen the economy. Your role is important and you should invest in sectors which have export potential," the premier added.
He said the provincial government was keen to gear up industrial activity and was well prepared to facilitate the private sector. FPCCI President Riaz Ahmed Tata said "we have been given an opportunity to serve the country". He said the industrial sector's share in the economy is 26 per cent and it pays 60 per cent taxes.
"We have problems in investment. Domestic investment attracts foreign investment. The law and order problem is different from terrorism and there is law and order problem in Karachi", Mr Tata said. He said basic facilities were not being made available for industries in and there was a need to improve the port and shipping sector. -APP