Malaysia Making Serious Endeavours To Mitigate Supply Chain Problems: Chairman PUNB

Chairman Perbadanan Usahawan Nasional Berhad (PUNB) Mr Dato Haji Ahmad Nazlan bin Idris Tuesday said that Malaysia is making serious endeavours to mitigate the supply chain problems in wake of pandemic and in this connection, preference would be given to purchase the commodities directly from Pakistan

FAISALABAD, (UrduPoint / Pakistan Point News - 21st Jun, 2022 ) :Chairman Perbadanan Usahawan Nasional Berhad (PUNB) Mr Dato Haji Ahmad Nazlan bin Idris Tuesday said that Malaysia is making serious endeavours to mitigate the supply chain problems in wake of pandemic and in this connection, preference would be given to purchase the commodities directly from Pakistan.

Addressing the business community of Faisalabad in Faisalabad Chamber of Commerce & Industry (FCCI) along with delegation of Malaysian entrepreneurs, he said that the Malaysian delegation has earlier visited Pakistan Agri Expo 2022 in Lahore and now we are visiting Faisalabad to identify new suppliers for the Malaysian markets.

He said that the Malaysian delegation was composed of representatives of food, textile and industrial sectors, however we intend to purchase fresh foods and vegetables including potato, onion and frozen meat.

"Similarly, we also try to purchase raw material for textile products used in home, hotel and hospitals in addition to the garments", he said and added that our entrepreneurs would also explore new opportunities for investment in Faisalabad. About post corona impacts, Chairman PUNB Haji Ahmad said that global economy was disturbed due to supply chain interruption.

He said that the situation was now returning back to normal and we were exploring new destinations to make our purchases with minimum freight charges. He was optimistic that this visit of the Malaysian delegation would also exacerbate the bilateral-trade between the two countries.

President FCCI, Atif Munir Sheikh, in his address said that Faisalabad was strategically located in the heart of the country and was linked through reliable air, rail and road links. He said that Faisalabad had state-of-the-art industrial estates.

Atif said that M3 and Allama Iqbal Industrial Estate had been given the status of Special Economic Zones to offer a ten-year tax holiday to the new investors.

The president said that 65 industrial units were operating and contributing a major role in enhancing national exports. About the fully developed textile sector, he said that Faisalabad alone was contributing 45 per cent share in total textile export of Pakistan. "Similarly, its share in overall export was 22 per cent while it was also catering 80% domestic clothing needs of the country", he said and added that FCCI had 8,000 members hailing from 72 various sectors and trade.

He said that we have inked the Free Trade Agreement (FTA) but could not fully exploit its potential.

Atif Munir said that 28 FCCI members were already doing business with Malaysia but their numbers must be increased to enhance our overall trade volume.

Executive Member Muhammad Azhar Chaudhry gave a comprehensive presentation on business opportunities between Pakistan and Malaysia and said that Faisalabad had been producing quality products and we were holding "Made in Faisalabad Expo" every year to showcase our products.

He said that the exhibition could also be arranged in Malaysia to give a quantum jump to our bilateral-trade.

Muhammad Azhar particularly mentioned the fast-growing Hilal markets and said that its volume was expected to jump to 3 trillion in 2023. He said that we must collaborate to get the lion's share through branding.

Former chairman Faisalabad Dyes and Chemicals Merchants Association Mr Rashid Munir presented shield to Haji Ahmad and presenting gifts to President FCCI Mr Atif Munir Sheikh.

Later, Bussiness-to-Bussines (B2B) meetings were held between FCCI members and Malaysian delegates.