KARACHI: A delegation of Industrialist headed by Patron in chief of Korangi Association of Trade & Industry (KATI) S.M Muneer and President Sheikh Umer Rehan called on Advisor to PM on Trade & Industry, Abdul Razak Dawood here at office of Trade Development Authority (TDAP), says a Press release.
Members of the delegation had expressed their concern and advices to the Advisor. They said that bank financing is provided at minimum rate of 16% to the industries which should be brought to single digit in order to promotes the industry. Industrialists were of view that special markup rate below 5% should be considered for sick industry in order to revive them.
It was also suggested that to get first-hand information regarding issues pertaining to industry in Karachi and quick response on them PM Khan should designate a focal person at Karachi for the business community of the city.
Representatives of KATI also demanded 24/7 uninterrupted supply of power and gas to the industries of Karachi, and establishment of 5 combine effluent treatment plants (CETP) in the city without any further delay.
It was also discussed in the meeting that 7.5 cents power tariff facility provided to few export related sectors should be extended to all industries producing export goods to boost national trade to the world. Promulgation of notification of local “Edible Oil Seeds Development Council” should be ensured. Industrialist urged that duties on import of machinery for value addition in industry should be exempted to cut the cost of production.
Members of the delegation urged that 20pc duty on import of pharmaceutical machinery, plants and 15 pc on its packing material should be waved off in the interest of public welfare, because this becomes burden on this industry. Silos for wheat crop should be constructed in order store the wheat; to save them from waste also suggested in this meeting.
The Adviser to Prime Minister Razak Dawood assured the industrialists that all pertaining issues of industry would be resolved soon and suggestion would be considered for implementation and policy making.
Senator Abdul Haseeb Khan, Zubair Chhaya, Gulzar Feroze, Zahid Saeed, Masood Naqi, Farukh Mazher, Rashid Ahmed Siddiqui, Danish Khan, Johar Qandhari, Ehtesham Uddin, Tariq Malik, Sheikh Basid Akram, Salman Aslam and Mian Mehmood Hasan were also present in the meeting.