Home »Business and Economy » Pakistan » Efforts afoot to restrict import bill & boost exports: FIEDMC chief
Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq Tuesday said the incumbent government is focusing on promoting export-led industry and import substitution to restrict the import bill and boost exports.

He revealed this during a meeting with Lahore Chamber of Commerce and Industry (LCCI) President Almas Hyder that was also attended by LCCI and FIEDMC office-bearers. FIEDMC would extend all-out assistance to exporters and try to make policies that would help promote the country's exports across the world, he said.

He further said foreign industrialists and investors hailing from different countries especially China can help increase Pakistan's exports by relocating export oriented industries and initiating joint ventures in various fields. This will boost industrial cooperation besides strengthening bilateral economic partnership with other countries, he said.

Kashif said there are investment opportunities in various sectors such as maritime, iron and steel, petrochemical, agro based industries, tourism, energy, minerals and mines and textiles. He said they have invited both local and foreign businessmen and investors to take advantage of incentives being offered by FIEDMC. He said that investor confidence was being restored gradually after completion of the M3 project. He also highlighted various steps taken by the government for improving ease of doing business and facilitating foreign investment.

He emphasized that consistent policies were imperative to attract foreign investment into the country, which could lead the economy towards sustainable growth.

"Pakistan's economic indicators are now improving and soon the government will announce relief packages for the poor strata of society," he added. It is right time for both local and foreign investors to explore joint ventures and investment in SEZs and in other sectors of Pakistan's economy in order to take advantage of being the first movers, he added.

He reiterated his earlier stance that they would use all available resources to provide the best facilities to their customers so that industrial revolution would be brought not only in Faisalabad but also across the country.

Copyright Business Recorder, 2019


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