By Sadiq Saleem
PM Imran Khan on Thursday said that the top priority of the government is to make the economy stable to create better opportunities for livelihood, increase trust among foreign investors and facilitate local industries to grow.
A special meeting was held at Bani Gala house in Islamabad by the prime minister and his economic team to talk about economic reforms and strategies to revive and flourish the industrial sector.
Federal ministers Makhdoom Khusro Bukhtar, Omar Ayub, Hammad Azhar and Mohammad Mian Soomro; advisers Dr Abdul Hafeez Shaikh, Abdul Razzak Dawood, Dr Ishrat Hussain; exclusive assistants Dr Firdous Ashiq Awan and Yousaf Baig Mirza; Federal Board of Revenue Chairman Shabbar Zaidi, former finance minister Shaukat Tareen; and different govt officials attended the meeting.
The participants of the meeting mentioned a variety of suggestions about the development of small and medium enterprises, restoration of industries and firms, and providing subsidies to the construction sector.
The meeting concluded that the rehabilitation of the industries and firms should be carried out with the help of public-private partnership formula.
PM Imran instructed the concerned authorities to finalize the required administrative reforms and legal guidelines within 60 days to restore the struggling industrial units under a comprehensive plan. The members were directed that the small and medium enterprises had been facing a number of challenges which include a lack of funding, latest and required technology, skill labor, reforms in the Small Medium Enterprises Development Authority (SMEDA), and a lack of research.
Imran Khan further instructed the govt officials to include the private sector for the development of the SMEs. He asked officials to provide a comprehensive action layout for the development of the sector, within a given span of time. He announced that tax incentives will be provided to relevant industries to facilitate the construction sector. He directed the economic adviser to come up with an approach in coordination with the FBR, Naya Pakistan Housing Authority and the provincial governments in this respect and submit the report by next week.
Sadiq Saleem is a Web Developer, Blogger and Digital Marketing Expert with a passion to write for Technology, Business, Career, and Education