By Menahill Rashid
FAISALABAD: Government is implementing a sustainable growth model to enhance exports and attract maximum foreign remittances in order to get rid of inflation and loans on permanent basis, said Mian Farrukh Habib, State Minister for Information & Broadcasting.
Addressing the Annual General Meeting (AGM) cum dinner of All Pakistan Bedsheets & Upholstery Manufacturers Association (APBUMA), he said that the textile sector was experiencing worst crisis just 3-4 years ago, however Prime Minister Imran Khan who was then in opposition consulted all stakeholders and a comprehensive textile policy was evolved. He said that after coming into power the PTI Government categorically announced subsidized Gas and Electricity tariff for the industrial sector so that its dynamism could be restored and we could enhance our exports and create new job opportunities for the unemployed youth. He underlined the importance of the SME sector in the national economy and said that most of the Large Manufacturing Units (LMU) had started their journey as SME’s. He said that only the SME segment has potential to immediately double its exports and hence the Government is trying its optimum best to resolve its problems on priority basis. He said informing that corona was a global phenomenon which has plugged major economies into turmoil but our Government decided to continue industrial activities to save the exports and employment of industrial and commercial workers. He further elaborated that world financial institutions were predicting GDP growth of Pakistan at nominal rate of only 1.5-2%. He said that prudent policies played a major role in our growth which have crossed the mark of 4.5% and because of our sustainable economic model it will become 5% very soon. Quoting various statistics, he said that the Government provided best possible facilities to stabilize the economy on the war footing. He said that his office in Islamabad is open for the business community of Faisalabad and they could contact him at any time for the resolution of their individual and collective issues.
He appreciated the smooth transition of power in APBUMA and said that the Government was also contemplating to introduce Electronic Voting Machine (EVM) to restore the credibility of general elections. He affirmed that FCCI and FPCCI should also switch over to the new technological interventions so that a conducive climate could be created in Pakistan for the use of electronic voting machines at the national level.
