Staff Report
ISLAMABAD: Prime Minister Imran Khan on Friday said that the development of industrial sector was vital for the country’s socioeconomic progress.
The present government has introduced Compliance Regime instead of the No Objection Certificate (NOC) Regime, he added.
The Prime Minister was talking to Minister for Industries and Production Makhdoom Khusro Bakhtiar who along with a delegation of industrialists called on him here.
During the meeting, matters relating to the development of industrial sector for creating ample employment opportunities for youth and poverty alleviation in the country were discussed.
The Prime Minister directed to ensure business-friendly environment in the country to encourage investors and achieve speedy industrialization.
He also directed the Ministry of Finance and other relevant institutions including the Board of Investment (BOI), Federal Board of Revenue (FBR), State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) to work in coordination to create enabling environment for the promotion of industrialization. The meeting was also attended by renowned industrialists Mian Anjum Nisar and Muhammad Irfan.
Moreover, Prime Minister Imran Khan on Friday said that protecting the common man from the effects of global level price-hike was among the government’s foremost priorities.
He said that the developing countries were being hit hardest due to the rising prices at international level.
The Prime Minister was presiding over a high-level meeting about the country’s economic situation and the global phenomenon of rising essential goods’ prices.
During the meeting, recent visit of the Prime Minister to Russia and the progress of bilateral relations between the two countries were also discussed in detail.
Federal Ministers Shaukat Tarin, Ch. Fawad Hussain, Asad Umar, Makhdoom Khusro Bakhtiar, Hammad Azhar and Special Assistant to PM Sania Nishtar were in attendance.
The Prime Minister said that the government also accorded foremost priority to public relief amidst the global price-hike crisis created by the COVID-19 pandemic.
About the country’s overall economic position, the meeting was told that due to the current conflicting situation, the crude oil prices in international market had surpassed US $ 100 per barrel and the prices of gas had also witnessed 3 to 5 times increase.
Besides, it was told that the prices of edibles particularly palm oil have also increased.
During the meeting, the Prime Minister was also apprised of the various Ehsaas Program schemes as well as the measures to bring in further improvement in the schemes for public relief.
