Zubair Tufail was elected as President of FPCCI in the Year 2017 and wasalso elected Chairman of Pakistan Chemicals Manufacturers Association. In the industry since 1972, he is also the Chairman of Tufail Chemical Industries Limited and Tufail Group of Companies. He has brilliant command on complex trade matters, public finance, economic, social investment and industrial related issues. His commitment to national interests, humanitarian aspects, economic and trade development is a well-known fact. TFD got the opportunity to discuss the business community’s issues resolved by the ruling group of FPCCI, United Business Group with Zubair Tufail. Following arethe details of interaction the TFD had with him.
TFD: First of all, we would like to know about yourindustrial profile justifying your leading position in United Business Group?
ZT: I’mrunning three chemical plants successfully in Karachi & Lahore and am in the business since 1972.I’m Chairman of Tufail Chemical Industries Limited as well as of Tufail Group of Companies.
TFD: Would you like to share your personal efforts for this country? Personal contribution?
ZT: I’m one of the outstanding tax payer and law abiding citizen who paid personal income tax worth of Rs15 million in June 2016 and my group paid income tax worth more than Rs235 million in 2016.I have the strong desire to enter into manufacturing business, which is based on import substitution, to save foreign exchange of the country and generate jobs for the youth of Pakistan.When I would become the FPCCI President, I would resolve large number of trade related business community issues asthey look towards me with great respect due to my selfless devotion.
TFD: What are the main burning issues of our economy that are to be given priority by your UBG leadership after the FPCCI elections 2019-20?
ZT: Trade deficit, decliningexports, energy shortage, trade imbalance, unstable political set-up, lack of business friendly policies of government, unemployment, unavailability of skilled labour, poor governance, rupee instability, refunds and rebates.
TFD: Is CPEC beneficial for Pakistan? We feel there is huge trade imbalance between Pakistan and China?
ZT: No doubt it’s beneficial for Pakistan but having retarded growth in present scenario. Being self-sufficient in petro-chemical sector should boost our exports to China as well and address the trade imbalance. Pakistan’s bilateral trade deficit with China is a matter of concern for them as well. They would also like to fill the trade gap and they are trying to decrease it.
TFD: Do you feel that there is any potential and political harmony in Pakistan-China political leadership related to CPEC that would it be beneficial for our business community?
ZT: The potential is there, but we have to hope for political calmness for the possibilities to materialize. The Government has to share CPEC agreements with FPCCI leadership, Chinese are willing to invest irrespective of the political landscape that will benefit our business community and ultimately reduced the trade gap.
TFD: Would you like to share any of your outstanding achievements when you were President FPCCI in 2017?
ZT: During my regime and due to my efforts, Government paid Rs125 billion refunds to exporters in 11 months and the money was directly transferred to their company accounts that helped stable our exports.
TFD:Please share some more contribution of yours as FPCCI President?
ZT: I focused on International Exhibition that not only boosted our exports but was also instrumentalin improving the country’s image.I also tried to promote SMEs culture and women empowerment by supporting small and medium businesses.
TFD: How you promoted women entrepreneurship?
ZT: We formed Independent Women Entrepreneurs Sub Committees, enabled them to participate in international exhibitions, coordinate with USAID for restructuring their small businesses, training workshops, hands-on experience on their soft skills and e-Commerce adoption to grow their business from home.
TFD: Will you please discuss our acute economic deficiencies?
ZT: Trade imbalance, our imports are $60 billion while exports are $29 billion indicating huge difference that threatens stability of rupee stability, balance of payments and results in increasing our debt burden. Government has to set our imports that will not exceed from our exports and foreign remittances.