ISLAMABAD, May 28 (APP): Federal Minister for Planning and Development and Special Initiatives Asad Umar on Friday expressed the optimism that Gross Domestic Products (GDP) growth in the final year of PTI Government would be 5.8 percent in Fiscal Year 2022-23, surpassing the figure of PML-N regime’s last year.
He said that GDP growth so far in current financial year had been worked out at 3.94 percent of the 10 months, and added this would increase to 4 percent at the end of Fiscal Year 2020-21.
Addressing the conference on “NCOC Policy and SOPs regarding COVID-19” at ICCI House, he said that the economy had achieved 3.94 percent growth due to timely and prudent decisions of the government.
He appreciated the presentation by the President ICCI and said that its current ruling group was bringing forward young and talented business through this forum.
Special Assistant to Prime Minister (SAPM) on Capital Development Authority (CDA) Affairs, Ali Awan, Presidents Anjuman-e-Tijaran of Islamabad/Rawalpindi and Presidents of Market Associations were also present on the occasion while the Presidents of various Chambers including Faisalabad, Gujranwala joined the event through zoom.
Asad Umar said that the government would launch a national campaign for vaccination to check COVID-19 pandemic and urged the business community to fully cooperate in mass vaccination of their employees and general public that would eventually pave way for removal of restrictions.
He said that the government wanted businesses to run for 24/7, but currently 21 percent of Islamabad residents had been vaccinated.
The Minister said that the government was ready to set up vaccination centres in ICCI, markets and industries for facilitating maximum people to make Islamabad a role model city for controlling the coronavirus.
He was optimistic that with increased vaccination, all restrictions on businesses would subside by the time of Eid-ul Azha.
Asad Umar said that restaurants, marquees, wedding halls and educational institutions had been badly hit by the COVID-19 pandemic and the government was working on a special relief package for these entities.
He said that parks would be opened with limited capacity of visitors.
In his welcome address, President, ICCI, Sardar Yasir Ilyas Khan lauded the government’s efforts to control the coronavirus and called for following one-safe-day
in a week and enhancing business timings up to 12 midnight for revival of business activities.
He said that the average coronavirus positivity rate has come down to around 4.5 percent while Islamabad has the lowest positivity rate of 2 percent, which showed that the business community and people were following SOPs. Therefore, there was an urgent need to ease restrictions on businesses to help revive the economy, he added.
He said that all market associations including associations of other sectors like restaurants and parks had signed a petition to ensure strict compliance of SOPs in Islamabad and called for opening amusement parks, indoor dining in restaurants, cinemas and gyms to revive the business activities.
He assured that ICCI would fully cooperate with the government in the vaccination campaign and was ready to set up a vaccination desk for the business community in its premises.
Chairman Founder group Mian Akram Farid, in his vote of thanks, lauded the efforts of the government for achieving 3.94 percent growth that would go further up due to good performance of stock market, inauguration of Rashakai Economic Zone, construction package and other positive initiative.
However, he said that the government should remove all duties on the import of industrial machinery to promote industrialization and focus on the GSP-plus regime and FATF to redress challenges of the economy.
