Govt working to restore investor confidence1 min read

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LAHORE:  Punjab Chief Minister Sardar Usman Buzdar has emphasised that the government is working to tackle the looming economic crisis, revive the industrial sector and restore investor confidence, besides creating 10 million new jobs through skill development programmes.

Speaking at a reception held by the Pakistan Furniture Council (PFC) on Wednesday evening, the CM said the government would utilise all available resources to give a boost to small and medium businesses in the province.

Also Read: CPEC benefits multinationals, Pakistani firms

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“Poverty is swelling in the country; the only solution is to flush out rampant corruption by taking action against those indulging in corrupt practices,” he remarked.

Buzdar stressed that government interaction with the industrialists was necessary in order to determine how industries were faring and to see how they could be supported. “Pakistan loses substantial foreign exchange due to imports,” he said. “This can be reduced by encouraging and supporting local industries.”

He pointed out that the government would urge the authorities concerned to provide more visible support for furniture businesses in terms of simple and easy grants for participating and exhibiting in trade shows and making exports.

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Appreciating the role of PFC in promoting the furniture industry, the CM acknowledged that the furniture industry had immense potential to dominate global markets with innovative designs and had the ability to contribute billions of dollars to the country’s annual exports.

PFC Chief Executive Mian Kashif Ashfaq said market potential of Pakistan’s handmade furniture was huge and the government should frame policies in accordance with the potential.

(This news/article originally appeared in The Express Tribune on September 7th, 2018)

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