Federal Minister for Board of Investment Qaiser Ahmed Sheikh has said that if Pakistan wants to increase exports, it should focus on Karachi.

Addressing a meeting at the Korangi Association of Trade and Industry (KATI), he said that China is seriously looking at Pakistan for investment, but the Chinese are afraid to come to Karachi.

He said that the Prime Minister has abolished the super tax on exporters in the budget, issues like sales tax refund and high energy prices still exist.

Qaiser Ahmed Sheikh said that our position on FBR issues is the same, a financial center has been built in Islamabad, the government’s entire focus is on increasing exports, interest on loans of Rs 8,000 billion is the biggest expense.

The Federal Minister said that SIFC is doing a good job in terms of investment, with the cooperation of the Sindh government, a special economic zone is being built on 6,000 acres of land of Steel Mills.

He said that there will be zero duty in the Steel Mills Economic Zone for 10 years, the IMF was not allowing zero rating in the Special Economic Zone, the government has convinced the IMF with great difficulty to zero-rate the SEZ.

Qaiser Ahmed Sheikh said that the struggle for truth has increased Pakistan’s global image, earlier the US president did not pick up Pakistan’s phone but now see the results. India has left no stone unturned in declaring us terrorists but today we are advocates of peace in the world.

Addressing the ceremony, KATI President Ikram Rajput said that in the current environment, why would any investor invest? There is an energy crisis for our industries, many industries have closed.

He said that it has become extremely difficult for industrialists to establish new industries, those people have imposed themselves on us who have nothing to do with industry and economy.