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FM promises to relieve textile industry of existing pressures
Jul '08
The delegation of Karachi Chambers of Commerce and Industry was assured by Syed Naveed Qamar, Finance Minister, that the Government of Pakistan would review the power, and gas tariff imposed on the captive power plants of the textile industry.

The delegation comprised of representatives of various chambers of commerce from across the nation and is led by Mr Shamin Shamsi, President of KCCI.

The Finance Minister ascertained that the Government of Pakistan was considering relief measures for the textile industry manufacturers despite budgetary constraints and would work out a strategy to develop suitable climate for investments in the sector.

Mr Syed also assured that the textile industry would be given an update within a week about the progress made by the Government on revising existing gas tariff. A review meeting for this is scheduled to be held by the end of next week.

Fiscal space problems within the existing budgetary resources along with a rise in fuel prices in the international market have also become areas of concern for the KCCI.

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