News Desk
PPA
Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has strongly opposed the proposed ban on raw minerals and marble as approved by Senate Standing Committee on Commerce; and, which includes both metallic and non-metallic minerals. This is contradictory to the vision of Special Investment Facilitation Council (SIFC), which has made mines and minerals as one of their only five focus areas, he added.
Mr. Atif Ikram Sheikh categorically mentioned that Pakistan can easily reach a level of $10 billion in exports in minerals and marble, if a facilitative and incentivizing regime for the sector is introduced. Furthermore, the Senate Standing Committee on Commerce should have consulted the business community before proposing the aforementioned ban as the consultative process can help avoid discontentment with the governmental polices and direction.
Mr. Saquib Fayyaz Magoon, SVP FPCCI, demanded that the government should give a framework for the setting up of value adding manufacturing facilities with a deadline of 2 – 3 years as it is virtually impossible to transition to the value addition model overnight.
Mr. Saquib Fayyaz Magoon stated that a lot of credit goes to the exporters of minerals that they are still exporting $1.5 – 2.0 billion worth of products in such unfavorable circumstances.
Mr. Zaki Aijaz, VP FPCCI, proposed that FPCCI should write a letter to SIFC and apprise the institution of the distressing news for the entire mines and minerals sector; and, hold a round table to bring all the stakeholders together.
Mr. Shakeel Munir, former President Islamabad Chambers of Commerce & Industry (ICCI), said that the proposed ban has come as a shock to the business community as it was bolstered by SIFC initiatives and was gearing to bring FDI, JVs and industrial collaborations to Pakistan in mines & minerals sector.
Mr. Bilal Khan, VP Mines & Minerals Association of Pakistan, pointed out that the sector is already strained by the most expensive electricity in the region and we do not have the adequate infrastructure as well.
