Govt taking all possible measures to facilitate business community: President

ISLAMABAD, March 6 (APP):President Dr Arif Alvi Wednesday said the government was fully aware of the problems being faced by trade and industrial community and was taking all possible measures to provide enabling field to the businessmen.
Talking to a delegation of All Pakistan Textile Mills Association (APTMA), which called on him here, he appreciated the role being played by the private sector, particularly the APTMA, in the economic development of the country.
He underscored that value-addition in all sectors, especially in textile, was indispensable for capturing international market. The delegation informed the president that APTMA had set the target of doubling Pakistan’s textile export in the next five years.
The president stressed that increasing the exports and reducing the trade deficit was an important component of the present government’s strategy.
He underlined that the government was committed to improve the economic structure of the country and reduce the cost of doing business.
He said the government had rationalized the prices of gas, Re-Gasified Liquefied Natural Gas and electricity for zero-rated export oriented sectors like textile, leather, carpets, surgical and sports goods and had introduced sales tax zero-rating regime for the same.
President Alvi pointed out that the government was formulating the Strategic Trade Policy Framework for the next five years, which focused on reducing the cost of production and encouraging investment in export-oriented sectors.
He said the government was also drafting the third textile policy for the period of 2019-24 and exploring the ways and means to ensure the provision of high quality cotton seed.
The president emphasized that business community needed to play its active role in encouraging the businessmen to pay all their taxes so that budget deficit could be reduced and more funds could be allocated for the development work.
He said both public and private sectors would have to work in close cooperation for the progress and prosperity of the homeland.