President, PM vow to facilitate business community for smooth economic activities

President Mamnoon Hussain and Prime Minister Muhammad Nawaz Sharif on Wednesday said every possible facility would be provided to the business community to enhance trade activities in the country.

The President and Prime Minister expressed these views in a combined meeting with a delegation of businessmen and industrialists here at the Aiwane-Sadr. The Prime Minister earlier held one-on-one meeting with the President. President Mamnoon said the importance of strong economy had increased manifold in the era of globalization and termed liberal trade policies a vital factor in this regard. He said the government was sincerely taking steps in right direction for the improvement of national economy and promotion of businessmen activities. He urged the business community to benefit from the trade policies of the government and mentioned the flexible business policies of the country.

The President pointed that law and order situation and energy crisis were major impediments to smooth continuation of business activities in the country, however expressed hope that these issues would be overcome soon. Prime Minister Sharif said the government was taking steps to facilitate industrialists and business community. He mentioned that the country was facing big challenges of terrorism and energy shortage, and added that efforts were afoot to meet these challenges and increase electricity generation. Besides, he said import of Liquified Natural Gas to meet energy demand. He said infrastructure development was the government's major priority and said motorway would be constructed from Lahore to Karachi.

Sharif said, "We have discouraged lethargy in the government's decisionmaking and are bringing an economic turnaround in the country." He said economic indicators were improving, foreign currency reserves and stock market were high and rupee was stable against dollar.

PM said a 20-point agenda had been prepared for rooting out terrorism and extremism from the country. He said 21st Amendment and the amendment in the Army Act were important steps to clear this mess. He said swift justice is key to eradicating terrorism and the people spreading hatred and sectarianism would be tried in military ncourts.

He said Operation Zarb-e-Azb had played an important role in dismantling terror infrastructure and those terrorizing the society in the name of religion would be brought to justice. Under the National Action Plan, another Zarb-e-Azb operation was being launched to make the country peaceful, he added.

"These decisions have been taken in national interest and should have been taken earlier," he said. The Prime Minister said the government would give incentives to the business community and said steps would be taken to attract overseas Pakistanis to invest in Pakistan. He asked Federal Board of Revenue to consider decreasing tax rates to encourage more people pay taxes resulting in larger revenue collection.

He directed the Chairman FBR to hold a meeting with members of the business community to sort out their issues and apprise him personally on the outcome. The Prime Minister also directed the Ministry of Water and Power and Private Power and Infrastructure Board (PPIB) to expedite approvals of pending cases of power plants and immediately remove all hurdles.

The businessmen gave relevant suggestions to the President and the Prime Minister. They expressed gratitude for the opportunity of combined meeting with President, Prime Minister and the relevant ministers. They regarded the unity displayed by all parties on the issue of terrorism as a good omen.

The meeting was informed that overseas Pakistanis were sending 25 billion dollars annually through different channels, and also Free Trade Agreement 2 was being negotiated with China watching Pakistan's interest. It would be independent of FTA 1, signed nine years ago. Minister for Commerce Khurram Dastagir, Minister for Water and Power Khwaja Asif, Petroleum Minister Shahid Khaqan Abbasi, the Chairman FBR and Secretary Water and Power were present.