He was addressing a dinner hosted by Federation of Pakistan Chamber of Commerce and Industry (FPCCI) here on Monday. The dinner was attended by former office bearers of the FPCCI, member of business community and political workers of the Minister's constituency.
The manufacturers would not be allowed to take undue advantage of the cars' import policy, he said adding the slight increase in automobiles is because of the impact of capital value tax levied in the current budget. However, the duty on cars is being reduced gradually while about 10 years ago, the government had tried to slash duty on cars import but the then government had to reverse its decision due to pressure by the car manufacturers, he maintained.
Responding to FPCCI office bearers, the minister said the new Trade Ordinance is aimed at checking fake and ghost chambers and trade bodies rather than to create hurdles for the genuine ones. He categorically said the delay in holding of next trade bodies and chambers' election would not be allowed and sufficient time would be provided for effective implementation of the trade ordinance.
He said the new trade ordinance provided opportunity for setting up women chamber of commerce and industry even at district levels provided they have required strength of women members.
Similarly, the ordinance has provision for the small traders and for the first time four seats have been provided to them at FPCCI forum, he added. The ordinance was brought after thorough discussion with the stakeholders whose inputs were also incorporate in it, he maintained.
He further said there is no doubt the country witnessed significant economic growth but it is a fact that inflation also sharply increased due to gap between supply and demand. The industry is still facing problems which need to be redressed, he said.
However, he stressed need for developing local brand for the export purpose and said the government has allocated an amount of Rs 5 billion under equity fund to acquire foreign brands. He said the value addition come through development of own brand and regretted that we could not develop our export brand.
Humayun further said, we are going through transition for strengthening democracy in the country and urged the political parties to come with concrete solution of peoples' problems.
Earlier, FPCCI President Tanvir Ahmad Khan said the FPCCI support free trade agreement with Sri Lanka, Bangladesh, Malaysia and added that WTO has shifted the responsibility of compliance from government to private sector. The present era of economic supremacy is an effective tool for commercial relation with the world countries.
The non-tariff barriers are main hurdle in export and thus need to be redressed. He appreciated the trade policy and said that it focused on exploration of new markets for exports.
He demanded of the government to ensure completion of different projects in trade policy including setting up of textile city and treatment plants. He also assured business community's support to Humayun Akhtar Khan in next general elections. Former FPCCI President Tariq Sayed and Iftikhar Ali Malik, and Azhar Saeed Butt also spoke on the occasion.