LCCI For Post-Covid Review Of FTAs With Regional Countries

Lahore Chamber of Commerce & Industry Wednesday called for post-Covid review of Free Trade Agreements (FTAs) with regional countries

LAHORE, (UrduPoint / Pakistan Point News - 20th Oct, 2021 ) :Lahore Chamber of Commerce & Industry Wednesday called for post-Covid review of Free Trade Agreements (FTAs) with regional countries.

The demand was raised by LCCI President Mian Nauman Kabir after a meeting with the delegation of Pakistan Plastic Manufacturers Association (PPMA) led by Chairman of Punjab Industrial Estates Development & Management Company (PIEDMC) Syed Nabeel Hashmi here at Lahore Chamber. LCCI Senior Vice President Mian Rehman Aziz Chan, Central President of PPMA Haji Ikhlaq Ahmad, Chairman North Zone S.M. Tariq and LCCI Executive Committee Member Fiaz Haider also spoke on the occasion.

The delegation informed LCCI President that the domestic plastic industry has been facing difficulties,adding that all sectors were facing tough time due to Free Trade Agreement with China that must be reviewed to support local businesses.

"Plastic machinery is being imported at zero tariff", they said ,adding in the present scenario, "how the local manufacturers of plastic machinery can compete". They urged that the Free Trade Agreements should be reviewed after consultation with all the associations and trade bodies in order to protect the local industry.

Syed Nabeel Hashmi emphasized the need for establishment of Plastic Technology Center and training courses to produce skilled human resources for the industry. He also gave a detailed briefing to the LCCI President on the affairs of PIEDMC.

LCCI President Mian Nauman Kabir said that the policy makers should evolve policies to protect the domestic industry.

While calling for cascading, the LCCI President said that import of machinery, which is being produced locally, should not be duty free.

He said that duty on raw materials should be less than the finished goods. He added that raw material should be imported at 3 per cent duty.

Mian Nauman Kabir said that the Technology Center should be established to produce skilled human resources for plastic industry.

He said that Sundar Industrial Estate should be given transport facilities, subsidized electricity and residential colony.

Meanwhile, the delegations of Anjuman Hussainia Khawajgan Narowali led by its President Saeed Mangla, Salt Manufacturers Association of Pakistan and Shahalam Electric Market called on the LCCI office-bearers. The issues being faced by the business community came under discussion. They said that the issues of encroachment, lack of infrastructure in the markets and parking should be resolved immediately.

The LCCI President Mian Nauman Kabir informed the delegation that in a recent meeting, Chief Minister Punjab Sardar Usman Buzdar agreed that there will be no increase in the property tax rates. He said that the new industrial estates were being established in the province.

He said that the inflation is after shocks effect of Covid-19. He said that US policy is going to be changed for some countries, and the business community will have to change strategy in this regard.

LCCI Senior Vice President Mian Rehman Aziz Chan, Vice President Haris Ateeq, Former LCCI Presidents Mian Shafqat Ali, Sohail Lashari, Amjad Ali Jawa, Rizwan Haider, Chaudhry Wajid Ali, Malik Muhammad Khalid, Malik Usman, Kazim Ali Kazim and representatives of markets also spoke on the occasion.