Lahore: The Ferozepur Road Industrial Association (FRIA) has called on the government to place value-added small industries at the top of its economic agenda, emphasizing their crucial role in generating employment and driving growth. The FRIA Chairman Shahbaz Aslam said small industries should receive maximum facilitation to meet their operational needs and compete in the international market. News Desk
\nSpeaking today, Shahbaz Aslam stressed that sustainable, long-term policies need to be developed in consultation with industry stakeholders to support growth. He pointed out that the high cost of doing business is currently a significant challenge for small industries, with escalating energy, gas, and electricity tariffs, coupled with high markup rates and volatile exchange rates, threatening their survival.
\n\u201cThe government must act swiftly to reduce production costs for small industries so they can compete globally,\u201d Aslam said. Export-oriented small and medium-sized enterprises (SMEs) are finding it increasingly difficult to maintain competitiveness due to rising costs of production. He warned that persistently high energy tariffs and growing tax rates are undermining Pakistan\u2019s export potential.
\nShahbaz Aslam noted that small industries offer a high return on investment in terms of employment generation. \u201cCompared to other sectors, small industries can provide four times the employment while consuming only one-fourth of the energy,\u201d he said, highlighting their efficiency and economic importance.
\nHe also pointed to structural issues facing Pakistan\u2019s industrial sector, including inflation, political instability, rising fuel costs, energy shortages, and limited research and development. According to Aslam, these challenges make it difficult for industries to plan for long-term growth and maintain a competitive edge internationally.
\nThe FRIA chairman suggested that the government focus on creating a level playing field for small industries rather than relying on subsidies or waivers. \u201cThe burden of rising international oil prices is immediately passed on to consumers, but reductions are implemented very slowly. This creates uncertainty for industrialists and affects production planning,\u201d he explained.
\nAslam called for a comprehensive strategy to boost the performance of small and medium-sized industries, emphasizing that reducing utility costs, streamlining regulatory processes, and improving access to skilled labor would be more effective than temporary relief measures.
\nHe concluded by urging policymakers to recognize the immense potential of small industries to contribute to economic growth and reduce unemployment. \u201cBy prioritizing small industries, the government can ensure a sustainable economic recovery and strengthen Pakistan\u2019s position in the global market,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lahore: The Ferozepur Road Industrial Association (FRIA) has called on the government to place value-added small industries at the top of its economic agenda, emphasizing their crucial role in generating employment and driving growth. The FRIA Chairman Shahbaz Aslam said small industries should receive maximum facilitation to meet their operational needs and compete in the …<\/p>\n","protected":false},"author":4,"featured_media":89727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-89717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/89717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=89717"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/89717\/revisions"}],"predecessor-version":[{"id":89728,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/89717\/revisions\/89728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/89727"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=89717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=89717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=89717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}