FAISALABAD

The government should start 50% production of total energy from coal, demanded Faisalabad Chamber of Commerce and Industry President Suhail Bin Rashid on Saturday.

He stressed that the government should focus 15% of total energy production from bio fuel within the next 3-4 years and that the project of LNG import should also be started to overcome energy crisis in the country. “Paki-Iran Gas Pipeline project is also very crucial and the government should complete working on a war-footing. We have vast potential to construct larger dames in the country. Running water can also be utilised for power generation. We are wasting precious water resources without utilisation. It can be fruitful for cheap power generation,” he said.

He added, “If the government urges low sulfur diesel of local oil refineries for power generation, oil import bill can reduce by 30-40% within a few years.” He proposed legislations to bring the sectors exempted from tax into the tax net. Undue powers of tax official should also be withdrawn to facilitate the tax payers, he said, and urged the government to reduce non-development expenditures and the acquisition of loans from banks should be stopped.

“Moreover, the tax rate should be brought down to single digit,” he said. He proposed export promotion for the SAARC, OIC, ASEAN and D-8 member countries, including non-traditional markets. Agriculture sector is very important in the country’s economy, so high technology would be utilised to maximise agricultural production, which can be helpful for local and exports as well, he said. He appealed to the government to implement the recommendations to bring economic prosperity in the country.