Haji Zubair Ali, Convener of FPCCI Committee on revival of sick industrial units, talking to a delegation of Chambers & Associations. Arbab Faroq jan, President MCCI and Mr. Sikandar Khan, President CCCI also present on this occasion.
Karachi :Haji Zubair Ali Convener of FPCCI Committee on revival of sick industrial units, has said that the government should pay special attention to the rehabilitation of ailing industrial units to boost economic activities and reduce unemployment. He said that special relief should be provided to traders and investors for promotion of investment and industrial development. He said that rehabilitation of ailing industries would create vast employment opportunities and would also significantly increase exports and government revenue as well. While talking to a delegation of different Chambers & Associations yesterday, Haji Zubair Ali said that huge capital required to set up new units, which also take at least three to four years to start production, whereas rehabilitation of a sick industrial unit require small investment and it can be quickly incorporated into the mainstream of the national economy. In order to increase the country’s GDP, uninterrupted supply of electricity and gas to industries must be ensured and Khyber Pakhtunkhwa and the integrated tribal districts and Balochistan. He urged on, special tax rebates as well as interest-free loans to investors and traders on easy terms so that the sick industries can stand on their own feet and move Pakistan on the right path of economic development. He said that many institutions were forced to close down due to global recession and local energy crisis, moreover, the lockdown due to corona pandemic our country had been affected severely and the production activities declined by 10 percent in industrial sector. The government had initially announced creation of 10 million jobs, which is impossible without the development of industries and rehabilitation of ailing industries, he added. He further said that the government will have to take special measures and practical steps to revive economy through industrialization. The reopening of closed industries would create employment opportunities for millions of people in addition to our export and revenue to government, he added. He also advised the owners of ailing industrial units to contact the FPCCI for necessary assistance towards rehabilitation of their ailing industry.