Govt urged to reduce interest rates, taxes, electricity & POL prices

Sardar Ilyas Khan, chairman of the Islamabad-Islamabad Chamber of Commerce and Industry (ICCI), said the government should lower interest rates, taxes, electricity and oil prices in order to accelerate economic activity.

Speaking to a delegation from the Forum of Economic Journalists, he said that there is no doubt that the Pakistani Prime Minister wanted to bring an economic revolution to the country, but that the government should also heed the suggestions of stakeholders. Sardar Yasir Ilyas Khan said the government has made petroleum products an important source of revenue raising, and that’s not a smart approach.

The increase in gasoline and diesel prices will not only increase the cost of production further, but will also create a burden for the poor class. ICCI President said there are great opportunities for foreign investors in various sectors of the Pakistani economy such as telecom, industry, agriculture and construction. He said that India’s IT products exports are 100 times higher than Pakistan, and even Bangladesh is ahead of Pakistan in IT exports, and the government should pay special attention to the IT sector to achieve sustainable development and exchange rate. As the existing industrial areas in Islamabad are filled, it must cooperate in establishing a new industrial zone as well as an export processing zone near Islamabad Airport, making it difficult for industrialists and investors to establish a new facility. industrial units.

He also appreciated the premiere, which extended the construction package from six months to a year. Businesses across the country demanded further expansion of the construction package to increase business activities. Sardar Yasir Ilyas Khan, president of the Islamabad Chamber of Commerce and Industry, said CDA should try to develop Islamabad as a model city that would better promote commercial and economic activities.

Updated: January 18, 2021 — 1:28 pm

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