FAISALABAD: State Minister for Finance Rana Muhammad Afzal Khan said on Sunday that the government was striving to resolve the problems of the industrial sector, besides improving it on modern lines.
Addressing a meeting of Pakistan Yarn Merchants Association (PYMA), the minister said the government had taken a number of steps aimed at benefitting the industrial sector.
It was also executing a comprehensive strategy to resolve problems of the sector on top priority in order to enhance national exports and strengthening the national economy, he added.
The minister said the government was already making efforts to cut down prices of electricity and gas, particularly for the textile sector. In this connection, an agreement had been signed with Qatar to procure gas at the rate of Rs 12.75 MMBtu, he added.
“We are also making legislation to encourage and facilitate big companies to come and invest in Pakistan. Efforts have also been accelerated to bring down sales tax ratio at the rate of 15 per cent from 17 per cent,” he said.
A comprehensive strategy had also been evolved to increase cotton production in the country and the government would provide the maximum incentives to cotton growers, besides lessening their levies burden, he added.
