Industry status

The packaging sector seeks industrial status

LAHORE:

The packaging sector is the backbone of all industries and the government should grant it industry status in order to derive maximum benefits from it, said the regional chairman of the management committee of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Punjab Muhammad Nadeem Qureshi.

Speaking to representatives of Corrugated Board Manufacturers Association of Pakistan at FPCCI regional office on Tuesday, Qureshi pointed out that the corrugated board manufacturing sector holds significant importance in all industries.

Elaborating, he said the widespread popularity of online businesses and e-commerce has increased the importance and value of the corrugated industry.

“Corrugated boxes are the first choice for many product and service companies due to their efficiency, durability and reliability,” he noted.

Referring to the prime minister’s third amnesty package, Qureshi pointed out that Pakistani industrialists can invest in the country’s manufacturing sector and set up new units at a 5% tax rate without any fear of source investigation. investment.

Regarding the federal budget for the 2022-23 fiscal year, he said the business community should also focus on the budget because “now is the right time for the submission of pre-budget proposals to be negotiated with the government.”

He pointed out that it would be difficult to negotiate once the federal budget is ready.

The small and medium enterprise (SME) sector is the backbone of the economy and it has contributed immensely to the growth of industries and the creation of job opportunities, he said.

The SME sector “only needs exposure to export its products and once this is achieved, Pakistan’s trade balance will improve”, he added.

On this occasion, the senior management of the association urged the FPCCI to play its role in obtaining industrial status for the packaging sector.

Qureshi assured the sector of the chamber’s full cooperation to resolve the issues.

Published in The Express Tribune, March 9and2022.

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