Govt urged to reduce electricity, POL prices to boost economic activities

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Ilyas Khan has said that the government should reduce electricity and petroleum prices in order to boost economic activities.
He stated this while talking to a delegation of the Economic Journalists Forum. The ICCI president said that the increase in petrol and diesel prices would not only increase production cost of industrial units but also have a severe impact on poor segments of society.
The government has made petroleum products an important source of revenue collection which is not a wise approach, he said, suggesting a revision of taxes on petroleum products.
He further said that there is no doubt that Prime Minister Imran Khan wants to bring an economic revolution in the country, but the government should also pay heed to the proposals of stakeholders.
The ICCI president said that there are huge opportunities for foreign investors in various sectors of Pakistan’s economy, including telecom, industry and agriculture and construction.
He said that India’s exports of IT products are 100 times higher than Pakistan’s and even Bangladesh is ahead of Pakistan in IT exports, therefore, the government should pay special attention to the IT sector to achieve sustainable development and foreign exchange.
The ICCI president said that the government should cooperate in setting up a new industrial zone as well as export processing zone near Islamabad Airport as it has easy access to the airport and motorway as the existing industrial areas in Islamabad have been completely filled, making it difficult for industrialists and investors to set up new industrial units.
He also appreciated the premier on extending the construction package for another six months to a year. The business community across the country demanded that the construction package be further expanded to boost business activities.
Khan said that CDA should strive to develop Islamabad as a model city which would better promote business and economic activities.