President appreciates economic development in country

Islamabad, January 11, 2018 (PPI-OT):President Mamnoon Hussain has said that GDP has grown significantly during the last few years which has also strengthened the national economy. He also stated that there is a need to further enhance national income and development through the continuation of policies and all segments of the country including industrial and business community should play their role in this regard.

The President said this while talking to a delegation of Rawalpindi Chamber of Commerce and Industry (RCC and I) headed by its President Zahid Latif Khan who called on him at the Aiwan-e-Sadr, Islamabad on Thursday. On this occasion, senior officials of the President’s Secretariat and Ministry of Commerce and Trade were also present during the meeting.

The President emphasized that the continuation of economic policies is imperative for the stability of national economy. He underlined that it is a matter of great satisfaction that the incumbent Government is working on the similar strategy. It will have a positive impact on the economic sector and Commerce and Industry, he added. The President said that the decision to reduce tax rate will have a salutary effect on the economy and will also increase the national income.

The President underscored that national growth rate has increased during the last four years which is quite satisfactory. He added that corruption has been decreased which has also a positive impact on the economy. He told the delegation that the electricity production in the country has been increased, load shading has been controlled and after this the prices of electricity will also be reduced. Expressing satisfaction on the import of LNG for power production he stated that it will help to overcome the energy issues.

The President noted that Government’s policies are in the right direction but the trade and industrial community of the country must stay in a constant contact with the Ministry of Commerce and Trade so that these policies may be further improved. He urged that Chambers of Commerce and other trade organizations should promote research in various field so that new opportunities for the national industry and commerce could be determined after reviewing the international trends.

The President said that it is inappropriate to deny development process and achievements only due to the political and personal differences. Different segments of society should discourage these elements in order to accelerate the pace of development of the country, he stated. He stressed that business community is the pillar of national economy and the Government is fully committed to promote industry and commerce and to resolve the issues of this sector. He added that this strategy is producing fruitful results.

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