Meeting of Advisor to Prime Minister on Commerce and Investment with the President Faisalabad Chamber of Commerce and Industries
The Advisor to Prime Minister on Commerce & Investment, Mr. Abdul Razak Dawood, held video conference meeting with the President Faisalabad Chamber of Commerce & Industry to take the feedback from the industrialist on various support schemes/packages offered by the Ministries/Government organizations, in the backdrop of Covid 19. Executive members of FCCI and senior officers of Ministry of Commerce attended the meeting.
During the video conference, Mr. Dawood said that the government has provided every kind of facilitation to the industry and met their demands from time to time. He assured the businesses that the government would also consider the requests made by the President Faisalabad Chamber of Commerce. However, the Advisor noted that registration is required for the businesses, which remained off the books and did not pay taxes, before availing any concessions from the government. He reiterated that providing same concessions to unregistered businesses would be unfair to others who have duly complied with the law and regulations.
Talking about some of the significant reforms introduced by the government, the Advisor apprised the delegates of the reduction in discount rate by the State Bank of Pakistan, adding that the central bank would continuously review it as per the monetary policy.
The president FCCI applauded the Federal Government for providing support packages to the industry and particularly appreciated the efforts of the Advisor for being a vocal support of SMEs in the government.
During the video conference, the President FCCI discussed a few issues pertaining to the industries, particularly the Small and Medium Enterprises, in Faisalabad region and asked for expanding the support of the government as well. The industry further apprised that the commercial banks are giving priority to large scale, neglecting the SMEs for disbursement of loans. The delegates also shared some of the ideas to boost growth and increase exports. The Advisor noted the issues and the suggestions discussed in the meeting and assured the members of FCCI of complete support from his office for the uplift of industry and commercial activities.
Report by Sohail Majeed Butt