New industries to be set up for reducing unemployment: Prime Minister

KARACHI (April 06 2008): Prime Minister Syed Yousuf Raza Gilani on Saturday said that a comprehensive policy will be formulated to ensure setting up of new industries to generate employment opportunities in the country. Speaking to a delegation of Federation of Pakistan Chamber of Commerce and Industry.

Gilani said that the FPCCI will continue to serve as a think tank for fine tuning the government's trade and business policies and to provide it with the latest business pulse for policy formulation. He appreciated the historical role of FPCCI in serving as a platform for the business community of Pakistan to interact with the government on all issues concerning trade, commerce, local and international markets.

The Prime Minister said the ongoing energy crisis being faced by the country will be addressed on top priority. "We have already announced certain measures which have been endorsed by the Cabinet in its very first meeting," he added. Regarding impending shortage of water, Gilani said the government intends to construct small dams in the short term and large dams in the long term.

Gilani said the government would also make all possible efforts to bolster exports and all necessary steps would be taken to facilitate the exporter community. Similarly, he said concrete measures will be adopted to increase the confidence of foreign investors. He thanked FPCCI for its continuing role in the economic development of the country.

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KCCI urges govt to continue business of friendly policies

Staff Report

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged the newly constituted government to continue the business friendly economic policies as these have gone a long way in restoring the confidence of the business community.

In a statement on Saturday, Shamim Ahmed Shamsi, KCCI president and members asked the government if there was any change in the existing policies, if necessary, be made in consultation with the KCCI, the premier chamber of the country.

Mr Shamsi hoped that minister for Finance, Ishaq Daar and minister for commerce, Shahid Khaqan Abbasi would take the KCCI into confidence while formulating the fiscal and trade policies and all future policies would be prepared in consultation with all the stakeholders.

He argued that the economic and fiscal policies adopted by the previous government had yielded fruitful results in accelerating trade, enhancing investment activities, both local and foreign in the country on the one hand and increase in government revenues significantly on the other hand.

He appreciated the radical changes restructuring of the Federal Board of Revenue (FBR) and Trade Ordinance issued by Ministry of Commerce.

He warned that the economic and fiscal policies and practices that had prevailed in 90s, created hurdles for the business community and distorted the economy and therefore, must not be repeated.

He elaborated at present the country is facing internal and external threats such as economic recession, slow pace of foreign and local investments, increase in inflation and sky-rocketing prices of essential items, high mark-up rate, deteriorating law and order situation, and may de-stabilise the country.

He stressed the new government to address these issues and meet such challenges and threats effectively, so that the country may again be put on the rail of fast pace of economic progress.

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