LCCI terms Pak-China FTA beginning of Economic Revolution.

Lahore -- Lahore Chamber of Commerce and Industry Monday congratulated the government for signing of the second phase of Free Trade Agreement (FTA) with China and termed a beginning of 'Economic Revolution' in Pakistan.

In the letters written to Prime Minister Imran Khan, Advisors to PM on Finance and Commerce and Governor State Bank of Pakistan, the LCCI President Almas Hyder said that now it is up-to the private sector that how it cashes the opportunity and how it develops products according to needs of Chinese market at their specifications to get the best benefit of this agreement. This opportunity should be availed fully as it would lay foundation of a new era of economic and socio-economic development of the country.

He said that a jump of $ 6 billion in exports from Pakistan to China is expected after historic treaty between the two countries but to achieve this target, country would require $ 3 billion investment for industrial expansion and infrastructure etc.

Almas Hyder said that government should conduct an immediate analysis and sort-out the issues being faced by the industrial sector so that it can extract immense benefits from the opportunity of duty-free access to Chinese markets.

The LCCI President said that availability of running capital is one of the major issues being faced by the industrial sector. He suggested that State Bank of Pakistan should make available a special window for borrowing at lowest interest rates, especially for engineering and food industries.

Almas Hyder...