ISLAMABAD: Governor Punjab, Malik Muhammad Rafique Rajwana has said thatbringing China Pakistan Economic Corridor (CPEC) to Pakistan was a majorachievement of the current government as China came for investment inPakistan on soft terms in CPEC at a difficult time.

However, he said that government of Pakistan should address the genuineconcerns of local private sector on CPEC so that project could contributein promoting local industry as well.

The Governor Punjab while addressing business community at IslamabadChamber of Commerce & Industry (ICCI) during his visit to Chamber House onFriday said that he had discussed the concerns of business community onCPEC with Chinese Ambassador and added that China was interested in JVs andinvestment in Pakistan in textile, steel and agriculture sector.

Rafique Rajwana said that business community was the backbone of theeconomy and government should address its key issues to facilitate thegrowth of business activities. About Industrial Zone in Islamabad, headvised ICCI to send written proposal to Prime Minister and Chief MinisterPunjab with copy to him and he would play role for the establishment of anew industrial zone for the business communities of twin cities.

He said businessmen were making useful contribution to tax revenue andstressed that FBR should take measures to reduce trust deficit withtaxpayers. He said ease of doing business should be further improved topromote economic activities in the country. He assured the businesscommunity that he would act as their spokesperson and would take up theirhighlighted issues with relevant government authorities including the PrimeMinister.

In his welcome address, President ICCI Sheikh Amir Waheed said that aSpecial Economic Zone was planned in Islamabad under CPEC, but CDA couldnot identify land for SEZ as yet. He said that Punjab Government shouldcooperate in identifying suitable land in the vicinity of federal capitalfor SEZ.

The President ICCI said local industry needed upgradation to compete inCPEC and government should remove duties on import of industrial machinery.He said high power tariffs and taxes should also be reduced for reducingproduction cost. He said Punjab Government has imposed overall 28% tax onexport of manpower that should be reduced to promote manpower export. Hesaid government should remove sales tax on purchases as no other countrywas imposing taxes on purchases.

Muhammad Naveed Senior Vice President, Nisar Mirza Vice President ICCI,Zubair Ahmed Malik Chairman Founder Group, Mian Akram Farid, Khalid IqbalMalik, Mian Shaukat Masud, Baser Daud, Sheikh Pervez Ahmed, KhalidChaudhry, Naeem Siddiqui and others also spoke at the occasion.

They said Pakistan’s exports had fallen, imports had risen, trade deficithad surged and foreign remittances had reduced and stressed that governmentshould pay urgent attention to these issues to improve the economy.

They emphasized that government should make policies to promoteindustrialization instead of making Pakistan a trading nation. They saidmany industrialists from textile and other sectors were moving to China andother countries and urged that government should create conduciveenvironment to curb the flight of capital and promote investment in thecountry.