ISLAMABAD - In a virtual meeting with the Sarhad Chamber of Commerce and Industry (SCCI), Federal Minister for Commerce Jam Kamal Khan reaffirmed the government’s commitment to implementing trade-friendly policies aimed at boosting industrial growth and enhancing trade volumes.
Jam Kamal Khan assured the business community of full support in addressing the challenges they face, with a focus on ensuring the growth of local industries and improving trade with Afghanistan and other neighboring countries. During the meeting, SCCI President Fuad Ishaq raised pressing concerns about the escalating power and gas issues, which he said are gradually leading to the closure of industries. He also highlighted the challenge of high tariffs, which are further burdening the industrial sector.
Fuad pointed to the sharp decline in trade volume with Afghanistan. “In 2013-14, our trade with Afghanistan was valued at $3 billion, but it has now plummeted to $800 million,” he said, underlining the significant drop. He urged the government to address the issues surrounding transit trade and bilateral trade with Afghanistan, which are negatively impacting the local business community. The SCCI president further advocated for the establishment of a new industrial estate to support the business community and encourage industrial expansion, which he believes is critical for revitalizing the region’s economy. Minister Jam Kamal Khan expressed the government’s strong commitment to protecting and supporting the business community.
He acknowledged the challenges faced by industries due to the economic situation and pledged to take necessary steps to resolve the issues related to power, gas, and tariffs. Regarding the declining trade with Afghanistan, the minister emphasized the need to address the issue in order to improve access to Central Asian markets. The virtual meeting ended with a shared understanding of the urgency to resolve the business community’s challenges and to work towards sustainable solutions that would bolster industrial growth and increase Pakistan’s trade footprint regionally and globally.
