Steps demanded to protect, promote local industries

ISLAMABAD (DNA) – President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain on Wednesday demanded immediate measures in the budget to protect and promote local industry.
Growth rate, provision of jobs and revenue cannot be enhanced unless industrialisation is promoted through policy measures, he said.
Mian Zahid Hussain said that around two million youth enter into the job market every year which can get jobs if industrial sector is expanded.
He said that local industry is going down because of energy crisis, water scarcity, increased taxation and harassment by different agencies.
Moreover, industrial sector is worried over relaxations offered to the Chinese investors which they think will put them to disadvantage that is against the norms of level playing field, he noted.
The veteran business leader said that industrial sector should be informed about the details of Chinese industry that will operate in Pakistan, their output and market.
He said that masses deserve to know the loans acquired for China Pakistan Economic Corridor (CPEC), repayment schedule, interest rate and all other details.
Mian Zahid Hussain said that billions of dollars are being spent on road and railway infrastructure but it is not clear that country will be responsible for its maintenance which will cost billions annually. He said that CPEC is a game changer for both the friendly countries.

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