MULTAN, April 9th:Federal Secretary Industry & Production Abdul Ghaffar Somroo has said that we are going to introduce an industrial policy in the light of recommendation, proposals of Chambers of Commerce & Industry and other stake holders to increase the industrial production and meeting the export target of 25 billion. Delivering his speech at a meeting of MCCI executive Committee chaired by Shahid Naseem Khokhar its president .The meeting was also attended by Yousaf Naseem Khokhar CEO of SMEDA, Khawaja Muhammad Yousaf CEO of National Productivity Organisation, Khawaja Muhammad Jalaluddin Roomi Chairman of All Pakistan Bedsheet & Upholstry Manufacturers Association (APBUMA),Mian Tanvir'A Sheikh Ex-President of FPCCI, Shehzad Ali Khan Vice Chairman of PCGA. Somroo said that a new Industrial Policy is under preparation envisaging two-pronged strategy of export promotion and import replacement. The focus would be on maximum use of indigenous primary products and human resources.The policy would lay emphasis on employment generation, increasing productivity, product diversification, competitiveness and moving towards knowledge-based hi-tech industry. He said that new industrial policy would focus on the boosting up the industrial production as well as revival of about 1909 sick industrial units across the country, in consultation with all relevant stakeholders.A.Ghaffar Somroo said that Since Pakistan is an agriculture country and we would have to increase our agricultural output and our 70 percent exports depends on textile sector. He said that we are main producer of cotton but Bangladesh had superseded Pakistan while it was importing cotton to run its textile mills.Federal Secretary said that Government had introduced long term loans for industry on 8 to 10 percent markup.However it was not possible to grant any concession in bank loans when the inflation rate is in two digit.He said that Government was fully aware of that 18 to 20 percent markup was not viable for industry.It can be cut if we managed to increase the production,he added.FPCCI's former President Tanvir A sheikh said that Private and public sector would have to play their role to increase the GDP growth which had dwindled down to 2.5 to 3 percent.He said that Government had introduced a textile policy in 2005 which had given a road-map for boosting up textile production and its modernisation.Then our cotton consumption had gone to 16 million from merely 8 million bales per annum.When incentives were given to farmers they had produced 14 million bales which had now fallen to 11 million bales. APBUMA's Chairman Khawaja Muhammad Jalaluddin Roomi has stressed the need for access to European union markets ,United States and other developed states.He said that Pakistan should negotiate with USA for the granting exemption of duty on the products manufactured in Pakistan from the cotton imported from US.He further said that Government should pay proper attention towards the import of Liquified Natural Gas (LNG) so that gas companies could supply gas to industries.He further said that Government should provide loans on concessional markup in flood hit areas like Khyber Pukhtoon Khwah where mark-up rate is merely 8 to 9 percent.He also demanded for the excution of Cottage village in Multan, for which 32 acres of land was earmarked in Industrial extate. PCGA's Shehzad Ali Khan expressed his anger on granting licences for establishment of sugar mills in cotton zone,which caused the reduction of cotton production.He said that Government should patronise the ginning industry which was a base of textile sector and its modernisation was vital.Khawaja Muhammad Yousaf announced to set-up a women business centre in Multan to promote their products in the area.This announcement was welcome by Dr.Aamna Awan and said that we would do our the best to make this project a success.
