ISLAMABAD, August 18 (APP):Federal Minister for Industries and Production Muhammad Hammad Azhar on Tuesday said the industrial sector performed significantly despite challenges while the exports of the country had also been increased.
The minister stated this while briefing the media along with other ministers about Pakistan Tehreek-e-Insaaf government’s two years performance here.
During the COVID- 19 pandemic challenge, the cement and fertilizer sector performed better as compared to the past years, he said and added that the cement sale at local market as well as its export has been increased upto 41 percent in last fiscal year 2020 as compare to the previous year of 2019.
The minister said in critical phase of COVID-19, the government has adopted a comprehensive policy to mitigate the impact of the situation evolved across the world.He said the sale of local fertilizer sector had also been increased during the period.
Hammad Azher said the government has evolved a comprehensive strategy during the COVID-19, which lesser the impact of the pandemic.
During the COVID time, the government has opened the all essential industries which were related to basic human need and it also lowered the financial impact on local economy.
The government has also adopted the excellent policy for continuing the supply chain of all essential industries including the medical supply roots.
He said during the COVID-19, ”We have also offered the financial package to the industrial sector to provide them relief including the loan of Rs 3.5 millions offered to them for meeting their daily expenditure including the electricity and other utility bills.
The government has also presented tax free budget for fiscal year 2020-21 and also given tax relaxation to different industrial sectors during the challenging time of COVID-19.
He said the government has also presented the Electric Vehicle policy and Mobile manufacturing policy to start the manufacturing of these items at local market.
He said that through the institutional reforms policy, the government has merged the five institution into the ministry for cost saving and better management.
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