European Union investors are contemplating setting up hi-tech industrial units in Pakistan with technology transfer but they want more “Ease Of Doing Business” in consonance with international standards, said EU ambassador Androulla Kaminara.
Addressing the business community in Faisalabad Chamber of Commerce & Industry (FCCI), she acknowledged the practical and innovative approach of Pakistan during the covid crisis. She said that Pakistan tactfully handled this critical situation and as a result of it Pakistan gained much-needed economic activities despite the recession at the global level. She said that with enhanced production activities, the Pakistani industrial sector is working round the clock with full installed capacity and now it needs more skilled manpower to fulfill its foreign commitments well in time. She said that the EU was providing a special grant to Pakistan enabling it to equip its human resource with the best possible technical skills. Mrs. Androulla Kaminara said that the EU was also helping Pakistan in the research sector. “Maximum scholarships are being doled out to the Pakistani students who will also have an opportunity to work in EU labs under the supervision of senior researchers and academics. She said that Pakistan was the third-largest country that earned maximum educational scholarships last year from EU member states.
Earlier Engineer Hafiz Ihtasham Javed President FCCI said that Pakistan is still importing 80% of textile machinery from the EU, however, now it should explore the opportunity to manufacture this machinery in Pakistan. He also explained in detail the facilities provided in M3 industrial estate to the new and potential investors for domestic as well as other countries.
He said that the government was actively considering extending the facility of tax holiday up to ten year while one window operation is also being provided in the M3 industrial estate. He underlined the importance of technical education and hoped that the EU will revisit its policies to equip Pakistani youth with new and emerging technical skills. He said that Pakistani industrialists have learned to live with covid. He said that now we could discuss and settle our issues with EU counterparts through zoom. He hoped that the EU ambassador will also play her proactive role in arranging a zoom meeting of EU investors with Pakistani industrialists so that they could finalize viable joint ventures. About Kashmir issue Engineer Hafiz Ihtasham Javed said that it has posed a serious threat to world peace and EU must use its influence and pressurize India to settle down this chronic humanitarian issue in accordance with the UN resolutions.
A question-answer session was also held which was participated by Engineer Bilal Jameel, Mr. Inam Afzal Khan, Mr. Muhammad Fazil, Ms. Qaratul Ain, Sheikh Zulfiqar Ahmed, and Tahir Yaqoob.
