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KARACHI: Former provincial minister Mian Zahid Hussain has lauded the decision of the Prime Minister Imran Khan to personally meet with the leading businessmen to get their input for economic improvement.
The recommendations of the business community will help the government improve the economic situation and trigger industrialization to reduce unemployment and boost revenue. Mian Zahid Hussain said that Prime Minister is also eager to support the neglected sector of SMEs and some positive steps are expected shortly.
Talking to the business community, the business leader said that the export sector should get special attention as export earnings are necessary to run the country. Presently all the energy of exporters is being sucked by government officials, taxation issues, energy scarcity.
Read more: Circular debt shaking foundations of economy: Zahid Hussain
He said that pandemic and closure of factories in India and some issue in other regional countries have diverted their attention of foreign buyers to Pakistan. Many foreign buyers have been preferring India over Pakistan for two decades but now the situation has changed.
Many local textile exporters have booked orders according to their capacity and now they are turning down orders while some others have started upgrading and expanding manufacturing capacity. The government should benefit from the changing trends to gain lost share in the international market for which the policy of borrowing from exporters in the name of refunds should be stopped.
