December 20, 2024 (MLN): The Sialkot Chamber of Commerce and Industry (SCCI) outlined Sialkot's export contributions and called for the release of EDF funds to engage with the business community on sector challenges and opportunities.
The aforementioned discussion was held during the visit of Federal Minister for Commerce, Jam Kamal Khan, to the SCCI, accompanied by Defence Minister Khawaja Muhammad Asif and Finance Minister, Senator Aurangzeb.
Further approval was requested for bulletproof vehicles to ensure the security of foreign delegates, according to the press release issued yesterday.
Additionally, support from the Export Development Fund (EDF) was sought for the establishment of a Combined Effluent Treatment Plant and the implementation of solar energy initiatives in Sialkot’s tannery zone.
Proposals included setting up a Business Facilitation Center in Sialkot, which would feature a dedicated Ministry of Foreign Affairs (MoFA) desk.
The elimination of the infrastructure cess imposed by provinces, a matter already raised by the Commerce Minister, was emphasized as a critical step.
Moreover, attention was drawn to resolving challenges in the Export Processing Zones and reinstating the Fixed Tax Regime (FTR).
The visit emphasized the government’s commitment to boosting exports and strengthening partnerships with exporters.
SCCI President lauded recent government initiatives, such as reductions in the policy rate and the Duty Drawback of Local Taxes and Levies (DLTL), while requesting an extension of DLTL and related policies for another five years.
Minister Jam Kamal Khan expressed gratitude to the Defence Minister for facilitating the visit, allowing direct interaction with Sialkot’s business community.
Outlining the government’s collective resolve to support exports, he acknowledged existing challenges and reiterated his ministry’s focus on transitioning from a revenue-centric to an economy-centric approach.
“The entire cabinet, from the Prime Minister to the Finance Minister, agrees on the importance of export growth. While methods may differ due to constraints, we are committed to meeting business community needs,” Jam Kamal stated.
The Minister Commerce assured structural improvements in the EDF framework, with recommendations soon to be presented to the Prime Minister.
He supported proposals like airport scanners, tannery projects, and business facilitation centers, all geared towards enhancing exports.
Jam Kamal unveiled the plans to establish a state-of-the-art expo center with a dedicated Trade Development Authority of Pakistan (TDAP) office and Ministry of Commerce facilitation desk.
He emphasized strengthening sector-specific councils to address unique challenges, with their recommendations to be presented to the National Export Development Board (NEDB), chaired by the Prime Minister.
The Minister Jam Kamal assured the community that TIO appointments were now merit-based, with key performance indicators (KPIs) monitored quarterly.
Addressing concerns on compliance and certification for exports, Minister Jam Kamal encouraged collaboration with national accreditation bodies to rationalize costs and streamline processes.
The Finance Minister spoke on improving economic conditions and recent steps to stabilize the economy.
The Defence Minister specifically appreciated the Commerce Minister’s engagement with exporters during the visit, underscoring the importance of such collaborative efforts for economic growth.
The President of the Women’s Chamber of Commerce requested larger expo center venues, EDF board membership, and a dedicated research cell.
Additionally, she called for women-specific public procurement quotas and a transition from “women-owned” to “women-led” business benefits.
The Commerce Minister assured personal attention to their proposals. The visit concluded with a question-and-answer session addressing tax regimes, EDF surcharges, and regional competitiveness.
The Minister called for detailed written proposals on pending matters and assured consistent engagement with the business community.
By engaging directly with exporters and addressing their concerns, the visit reinforced the government’s commitment to achieving export growth and fostering economic resilience.
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Posted on: 2024-12-20T10:06:22+05:00