Pakistan Industrial and Traders Association Front welcomes government decision to establish export import bank

Lahore, January 31, 2013 (PPI-OT): Pakistan Industrial and Traders Association Front (PIAF) has welcomed the government decision to establish export import bank and extend markup support to certain sectors of of economy but termed $ 95 billion export target an ambitious one in the absence of electricity and gas.

In a statement issued here, the PIAF Chairman Sohail Lashari said that manufacturing sector is the backbone of economy and for the revival of economic activities or to achieve targets it must be strengthened. He said that it is a good omen that government has finaly unveiled three year strategic trade policy framework but it must give some roadmap for provision of gas and electricity.

He said that business community was unable to understand that how the export orders would be fulfilled when a large number of industrial units had already stopped functioning. Likewise, he said, gas gas load shedding has pushed the industry to the wall.

Government has to solve the energy crisis if it wants to achieve the targets set in the trade policy. He suggested to the government to immediately bring down the mark-up rates to single digit to support industrial sector.

He also invited the attention of the government towards deteriorating law and order situation which is discouraging both the local and foreign investors to put their money in any new venture.

The atmosphere of distrust prevailing at political front also needs to be taken care of as it was unduly vitiating the economic scenario and sending a very wrong signal abroad, the PIAF Chairman added.

For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Lahore, Pakistan
Phone: (92) 42 5123522
Fax: (92) 42 5123522

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