President of the Lahore Chamber of Commerce and Industry Engineer Suhail Lashari has said that the GSP Plus status will boost the pace of economic development in the country which is crucial.
Talking to State radio, he said that the government policies have been devised in the best interest of the economy but the pace of putting them in action remains slow.
Lashari said that tax reforms should be introduced with handsome incentives and cheaper things’ production should be made possible to expand the volume of exports. He stressed on the need of facilitating the industrial sector so that the sector may play its due role in the economic development of the country.
Economist Dr Ayub Mehr also said that the announcement of the incentive package by the government will affect the economy positively.
He said that due to the announcement, foreign investment has been increased and consequently Karachi Stock Exchange has been performing really well since the past few weeks and months.
