Serious efforts needed to pull country out of economic quagmire: S.M.Tanveer

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Serious efforts needed to pull country out of economic quagmire: S.M.Tanveer

ISLAMABAD, MAY 6 /DNA/ – Former Provincial Minister and Patron-e-in Chief United Business Group S.M. Tanveer has said that the country is passing through a challenging time and industries are being closed  whereas the neighboring country Afghanistan is  strengthening its economy by promoting its industrial and textile sectors. He said that we have to vigorously pursue Quaid’s saying   ‘work, work, and work’ if we really want to come out of the existing economic quagmire. He said that Hazara is blessed with natural resources but badly overlooked.

Addressing a ceremony in Abbottabad held by Abbottabad Chamber of Commerce and Industry and Industrialists Association of Abbottabad S.M. Tanveer went on to say that we have to enhance our exports by focusing attention on quality production through industrial development.  He added that by promoting tourism, the mineral sector and providing cheaper electricity to industry we can come out of the existing economic problems. 

On this occasion ban on leasing of mines and the issue of joint ventures also came under discussion and President FPCCI Atif Ikram Shaikh was apprised of the community’s difficulties at length.

In his address Secretary General United Business Group Zafar Bakhtawari said that Abbottabad is an important trade and cultural hub of KPK and that UBG is determined to provide every possible cooperation for its development as well as for the resolution of the problems of the community.

The Ceremony was also addressed by President Federation of Pakistan Chamber of Commerce and Industry Atif Ikram Shaikh, Chairman National Business Group Mian Zahid, Central Vice President FPCCI Haji Iftikhar Ahmed, Abdur Rasheed Khan and others.

Speakers were of the view that the inflated electricity bills are one of the main causes of the closure of the industries. They said that a country cannot attain prosperity by selling its valuable assets and obtaining heavy loans. Instead, the only viable way is to reduce the burden of heavy taxes on the industry and incentives for small traders. ICCI senior leaders Jawaid Kazmi and Haider Raza were also present on the occasion.

 At the end shields were also presented to the visiting guests.