ISLAMABAD/ FAISALABAD (APP) - The Federation of Pakistan Chamber of Commerce and Industry has stressed the need for enhancing Pakistan-Iran bilateral trade saying that the current volume of trade was insignificant compared to the existing potential. In a detailed meeting with Pakistani Ambassador to Islamic Republic of Iran M. B. Abbassi, President Federation of Pakistan Chambers of Commerce and Industry, Sultan Ahmed Chawla said that the volume of trade was just $ 573 million, of which the share of exports were approximately $ 219 million and imports $552 million. He expressed the hope that the ambassador would work for finding new avenues of cooperation between the two countries for improving trade relations, said a FPCCI press release received here on Wednesday. He stressed the need for setting priorities, saying that the government must provide facilities and incentive to bring down the cost of doing business to be competitive in international market. Chawla appreciated Iran's gesture of supplying 30 barrel crude oil per day to Pakistan on deferred payment for 90 days, adding that the volume of trade is expected to cross $ 2 billion by the end of current fiscal year. In their comments, Tariq Sayeed, President SAARC Chamber of Commerce and Industry, Chairman Pak-Iran Business Council and Former President FPCCI urged upon the government to priorities policy of enhancing regional trade. On the occasion, M. B. Abbassi assured the business community of his all out support for promoting trade and economic relations between the two countries. Meanwhile, Mian Hamid Javaid, president, Faisalabad Chamber of Commerce and Industry (FCCI) has expressed concern over recent increase in electricity rates and demanded freezing of electricity tariff for five years. In an informal chat with media at FCCI Complex here Wednesday, he said that government was determined to end load shedding of electricity by December 2009. In this connection, power plants of 1000 megawatt capacity have been arrived. "These efforts are appreciable but rise in electricity rates was unbearable", he said and added that government should trim electricity rates in order to overcome the economic crisis. He also demanded capping of electricity rates for five years to ensure speedy industrialisation. To a question about textile, he said that FCCI has finalized its recommendations to revive textile sector. These include continuous supply of electricity and gas, substantial decrease in load shedding and reduction in bank markup, he added. Quoting his recent meeting with textile minister, he said that payment of arrears regarding Research and Development would be started very soon. He said that our businessmen could only spare 10% of their time to business activities while their remaining 90% time is wasted in other non business related problems. He said that government should provide a business friendly climate by brining all departments relating to trade and industry under one roof. He contradicted a notion that local industrialists were involved in child labor and said that entire export related industry was paying salaries to workers according to the government directives.