ISLAMABAD
Federal Industries and Production Minister Ghulam Murtaza Khan Jatoi on Thursday said the government is finalising a five-year industrial policy which would be announced within the current year.
Speaking to the business community at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday, Jatoi said that industrial policy would be according to the aspirations of the industrial community.
He said that an Rs 18 billion bailout package has been approved for the Pakistan Steel Mills which would help increase production by 70 per cent in the next six months.
The minister said Pakistan will start importing LNG from Qatar in 10 months and the chronic energy crisis would be settled in four years paving way for the unprecedented industrial growth.
The sitting government has planned to establish one thousand additional utility stores among which two hundred and fifty would be opened in the province of Sindh, he added.
Jatoi said that Pakistan wishes to enhance export volume up to $60 billion to stabilise economy for which increasing trade with neighbouring countries and an industrial revolution is imperative.
“We are ready to work with the FPCCI for the revival of sick industrial units,” he said.
Speaking on the occasion, acting president FPCCI Shaukat Ahmed said that industrial sector has been contributing 20.9 percent of the GDP, providing job opportunities but it has been facing issues like law and order, incoherent policies, feeble infrastructure, and water as well as energy scarcity.
He said that export processing zones are facing problems calling for attention by the government.
He added that absence of proper infrastructure and police patrolling has emboldened the criminals including the kidnappers which is frustrating for the business community.
Shaukat Ahmed said that proper arrangements are required to dispose industrial waste which has been polluting water used for human and agricultural consumption.
The veteran business leader demanded steps to contain pollution in and around Port Qasim to save environment, wild life and world’s largest Mangrove forests which are of great economic and environmental importance.
The minister assured FPCCI representatives of sympathetic consideration and early resolution of the problems.