ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has highly praised Prime Minister Muhammad Shehbaz Sharif for launching a comprehensive relief package for industries and exporters, terming it a timely and positive step towards reviving economic activities, restoring investor confidence and strengthening Pakistan’s export base.
Addressing a well-attended press conference, ICCI President Sardar Tahir Mahmood said that the Prime Minister announced the relief measures, for which the press conference was primarily called to express gratitude and acknowledgement.
He also appreciated the Prime Minister and the Chairman Federal Board of Revenue (FBR) for reviewing and restructuring the valuation table of immovable property of Islamabad. He said that this rationalization will help restore market confidence and encourage genuine investment in the real estate sector.
The ICCI President highlighted that the relief package includes Rs. Reduction in electricity tariffs by Rs 4.04 per unit, industrial wheeling charges by Rs 9, reduction in Export Refinance Scheme (ERS) rate from 7.5% to 4.5%, and issuance of blue passports to leading exporters for two years.
He termed these measures as a clear reflection of the Prime Minister’s commitment to promote trade, investment and exports and reiterated ICCI’s full support for the government’s economic vision. He reiterated the chamber’s commitment to play the role of a bridge between the government and the private sector to ensure economic stability and national prosperity. Pakistan Travel Guide
Sardar Tahir Mahmood pointed out that excessive taxes and high interest rates were making Pakistan a difficult place to do business, and urged the government to rationalize these factors on an urgent basis. The ICCI President further stressed that bringing KIBOR to single digits was essential to reduce the cost of doing business and encourage long-term investment.
He reiterated ICCI’s strong demand to declare the real estate sector as an industry, noting that it not only caters to housing needs but also supports dozens of related industries. He also proposed holding a National Real Estate Conference with the participation of all key stakeholders to identify sectoral challenges and facilitate effective policymaking.
Speaking on the occasion, ICCI Founding Group Chairman Sheikh Tariq Sadiq welcomed the Prime Minister’s relief package but stressed the need for more measures to enhance industrial competitiveness and sustain economic growth.
Senior Vice President Tahir Ayub, Vice President Irfan Chaudhry, former Presidents Zubair Ahmed Malik, Muhammad Ijaz Abbasi, Executive Members Ishaq Sial, Zulqarnain Abbasi, Sanaullah Khan, Ms. Fatima Azim, Malik Mohsin Khalid, Imran Minhas, Raja Naveed Satti and a large number of business community were also present on the occasion.
