July 03, 2015
News
Time to shift focus from stabilisation to growth: Khurram Dastgir
KARACHI: Commerce Minister Khurram Dastgir said that the government had succeeded in creating a stabilised platform and now the time has come to shift focus from stabilisation to growth.
“Economy of Pakistan is on the right track due to the far-reaching structural reforms, stabilisation measures and initiatives of the past two years. We all must work together for the progress and prosperity of our country”, he said while exchanging views during his visit to the Karachi Chamber of Commerce and Industry (KCCI) on Thursday.
Khurram Dastgir pointed out that some of the well-known foreign commentators were reporting positive forecasts about the macroeconomic stability of Pakistan and the challenge for the government was to deal with trust deficit of the business and industrial community and take confidence building measures.
Referring to the improved law and order of the country, the minister said that it is a very serious issue hindering economic growth and stability but the overall situation has effectively been controlled due to ongoing Operation Zarb-e-Azb. Even in Balochistan, the law and order situation is gradually improving which would surely go in favour of the economy, he added.
The minister highlighted, “The second major issue hindering growth is the energy crisis and to deal with it, the government has initiated construction of projects including coal-fired power plants, nuclear power plants, solar power projects and a hydroelectric dam in Dasu while the construction of Pakistan’s first LNG terminal was completed within a short span of 11 months which shows the commitment of the government to overcome energy crisis.”
Commenting on the China-Pakistan Economic Corridor (CPEC), Khurram Dastgir said that this was not just limited to construction of road network only but a gas pipeline was also being laid from Gwadar to Nawabshah, which would be connected with Iran to facilitate import of gas. The CPEC would not only benefit Pakistan and China but also create opportunities to have trade with Central Asian Republics, he added.
Commenting on free trade agreements (FTAs) with various countries, the minister said that Pakistan has signed FTAs with China, Sri-Lanka and Malaysia while negotiations for signing FTA with Thailand, Turkey and Korea were underway.
Referring to KCCI’s concerns over the registration of bogus associations, the minister informed that two director-general trade organisation (DGTOs) had already been dismissed on charge of corruption and the last DGTO was currently being investigated. “KCCI must immediately bring it to the Commerce Ministry’s notice if they find any wrongdoings by the DGTO”, he advised.
He assured the business and industrial community of Karachi that he would personally advocate KCCI’s demand to get rid of FBR’s discretionary powers and also raise the issue pertaining to release of refund claims to the exporters.
Courtesy www.dailytimes.com.pk