Pakistan Businessmen and Intellectuals Forum (PBIF) President, AKIA President, FPCCI Businessmen Panel Senior Vice Chairman and former provincial minister Mian Zahid Hussain on Monday asked the government to take note of India’s industrial terrorism as it was bent upon destroying Pakistan’s textile sector, the backbone of economy.
In a statement issued here on Monday, he said that India was working on a multi-pronged strategy to damage Pakistan beyond repairs. It has initiated water terrorism followed by successfully pushing issue of Kalabagh Dam into controversies, he added.
He said that India was targeting China Pakistan Economic Corridor (CPEC) and now it has started industrial terrorism to damage Pakistan’s textile sector and bankrupt our country.
The PBIF president said that Indian prime minister was overseeing external sector personally, it has started giving hidden subsidies to the textile sector while banks have been directed to issue loans on zero per cent interest which has reduced cost of doing business of the competitors.
Mian Zahid Hussain said that on the other hand Pakistan’s textile industry was going down by the passage of every day due to increased cost of doing business.
The situation of investment and remittances was not satisfactory, exports was the only option left to bridge budget deficit otherwise the country will have to rely on foreign loans which have already reached to worrying proportions, he added.
He demanded the immediate refund to all export industries, steps to reduce cost of doing business and extra attention to the value-added sector.
Industrialists should be provided relief by simplifying taxation system and reducing the number of government departments dealing with them to save their time, he added.
