ISLAMABAD, Nov 7 (APP): Chief Executive Officer (CEO) of Lucky Cement Limited Mr. Muhammad Ali Tabba said on Saturday that the Pakistan economy is on the right track and export growth rate is on the rise.
Talking to a private news channel, he said the local consumption of the Vehicles, Cements and Fertilizers has increased. He added that the country has benefited greatly from the way the Pakistan Tehreek-e-Insaf (PTI) government has won the war against COVID19. He said the removal of lockdown restriction on the export and construction sectors have been beneficial, while government gave full support.
“State Bank of Pakistan also gave payroll markup subsidy”, he added.
The CEO also lauded the Ministry of Finance for releasing business funds very quickly. He said that despite reemergence of COVID19 many foreign countries are willing to invest in this part of region, he said adding, we hope to increase export of Pakistani products to different countries. It is a different matter that there are economic challenges, but textile alone must account for 124 billion to increase exports and increase production capacity, he added.
He suggested that the government should conduct a survey of Pakistan by international agricultural experts, because Pakistan is currently working on less capacity. With the help of experts, innovation in seeds and increasing the area under cultivation can create new aquifers and imported wheat, sugar, cotton and pulses can be grown here, he added. He urged that like Khyber Pakhtunkhwa (KPK), new water reservoirs will have to be created in Balochistan which will make a large part of Balochistan cultivable.
“Agricultural commodities worth six to seven billion will be imported this year”.
Replaying to a question on energy sectors, he said that the energy sector needs to be deregulated because monopolies are not improving. In addition to Sui Southern and Northern, there should be more gas companies while promoting the private sector, he added. He further said that the in the power sector, IPPs account for 20% and 80% for discos and 80% discos there is room for improvement so that we can reduce revolving loans. Competitiveness in the power sector and running discos on public private partnership can only lead to improvement, he added.
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