Karachi (HRNW) President of Korangi Association of Trade & Industry (KATI) Saleem-uz-Zaman has termed increase in foreign remittance encouraging for country and also urged the government to take initiative to attract investment in industrial sector.
He said that the historic rise in foreign remittance is a result of ease in transfer and investment schemes for overseas Pakistani, in the same way if government would make procedures smooth and provide relaxation in taxation for industry, the volume of investment can increase in industrial sector. He said that only industrial sector can assure enough jobs and sustainable economic growth of the country.
President KATI said that PM Khan has taken many timely decisions for the continuation of industrial production and also provided financial stimulus to the industry, this policy should persist as the crisis is not yet over. He urged more initiatives for SMEs sector as the sustainable development of industry depends on economic health of small and medium enterprises.
President KATI Saleem-uz-Zaman further said that we welcome the deal with IMF. However we also hope that this would not influence government financial policy, especially issues related to industries. He noted that any action causing increase in cost of production would severely affect the industry and exports as well.