Pakistan Industrial and Traders Association Front (PIAF) Chairman Sohail Lashari has demanded a special package for the cottage industry in the next budget as it is the backbone of the large scale manufacturing sector. He expressed these views at a reception hosted by LCCI Executive Committee Member and Cottage Industry Ghulam Sarwar Malik. LCCI Senior Vice President Sheikh Mohammad Arshad, PIAF Vice Chairmen Nadir Kamal Osman, Junaid Iqbal Sheikh and former LCCI Presidents Mian Shafqat Ali and Mohammad Ali Mian also spoke on the occasion.
PIAF chairman said that there was complete unanimity that the acute shortage of electricity, mounting unemployment, the deteriorating law and order situation and daily increase in prices of petroleum products had not only necessitated the need to reevaluate priorities but also bring relief to small businesses was a dire need of the hour. He cited the examples of China, Korea and United States where equal importance was being given to the small business.
Lashari noted that despite great resources, the economic downturn being witnessed by the country was an eye opener for the leaders of the country. LCCI Senior Vice President Sheikh Mohammad Arshad called for a three-pronged strategy to cope with economic meltdown. He suggested the government evolve short-term sector specific policies to break the economic deadlock as it had proved that longer-term policies generally fall prey to political uncertainty.
