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‘Govt making all out efforts to minimize pandemic impact on economy’

‘Govt making all out efforts to minimize pandemic impact on economy’

ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar said that government under the leadership of Prime Minister Imran khan was making all out efforts for revival of the economy as it is severely affected by coronavirus pandemic and is chalking out a comprehensive strategy for restoring activities of Special Economic Zones (SEZs) especially Allama Iqbal Industrial City after consulting the stakeholders.

He expressed these views while talking to Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq who called on him, said a press release issued here.

Hammad Azhar said the federal government is also working on revival of textile industry and despite the huge challenge of debt, the Prime Minister Imran Khan preferred to provide relief to people who are suffering from lockdown restrictions.

He said PTI government has introduced the biggest stimulus package in the history of the country to help the nation in this difficult time amid coronavirus pandemic.

He said just one programme was not sufficient to help all segments of the society, therefore the government was introducing multiple programmes to assist all sectors.

Hammad Azhar said the government was fully focused and committed to facilitate the people in the critical situation.

The provision of medical facilities and food to the people was the topmost priority of the government and for that the government would pursue the World Bank and the Asian Development Bank to release their aid amounting to $600 million on different counts on fast track basis, he added.

He said all the provinces and federation are on the same page in determining the essential industries needed to be operational in this lockdown situation, adding the industries that are providing raw materials and inputs to these industries will also be kept open. In addition, he said, the government will ensure transportation of labour forces to these industries.

FIEDMC Chairman Mian Kashif Ashfaq on this occasion expressed his satisfaction over the performance of the present government and lauded the efforts of Prime Minister Imran Khan for supporting business community at this time of ordeal.

He said he is much optimistic that as soon as international markets reopen after subduing coronavirus pandemic, Pakistan especially its Special Economic Zones (SEZs) including SEZ Allama Iqbal Industrial City, a prioritized Special Economic Zone of FIEDMC would stimulate the export base of Pakistan’s industries besides bringing billions of rupees foreign investment in the country.

He said currently FIEDMC is also facing hurdles to accomplish necessary tasks. The completion of these tasks was important in order to create economic activities and to help the country boost its exports.

In fact, a whopping amount of US$2 billion worth of export orders are now yet to be materialised due to the viral outbreak.

“This Special Economic Zone is not only important because the Chinese are ready to invest in our country; but also, because they will transfer their technology to us, increase our productivity and set up technical institutes,” he concluded.