English Press Release 27.12.2022

FAISALABAD. Foundry is the mother of all industries and we must upgrade it  in line with the new global technologies to  exploit its export potential, said Dr.  Khurram Tariq, President Faisalabad Chamber of Commerce & Industry (FCCI).  

He was talking to a delegation of Faisalabad Foundry Owners Association  ( FFOA). The delegation was comprised  of Muhammad Ashfaq Ashraf Chairman  FCCI Standing Committee on Foundry  and Allied Engineering and Mr. Atta  Ullah Chairman FCCI Standing  Committee on Agri Engineering in  addition to Executive Members Haji  Abdul Rauf, Haji Ismail, Jaleel Malik,  Abdul Razak, Sanaullah, Rizwan Ahmad,  Muhammad Abid and Muhammad  Yousaf. He said that the future of the industrial sector has been directly  linked with the foundry sector and we  must try our optimum best to reorganize and upgrade it on modern scientific lines. Similarly, the government should also play its role to  facilitate it in  consistent and reliable supply of  raw material  along with necessary tax exemptions.  He quoted the example of India where the agriculture sector was taxed to develop  its related industrial sector. He said that  in Pakistan our per acre yield is almost  half as compared to India and thus we failed  to exploit its potential. He termed  short term policies as a major hurdle in our  sustained progress and said that our  myopic approach is hindering the conception and implementation of long term  policies. He expressed concern that the tractor industry was zero rated but tax has been imposed on small manufacturers of its spare parts and other agri equipment and appliances.  He also criticized the recovery of sale tax from zero rated industry and said that first collecting tax and then refunding the same is a useless exercise. He further said that out of the collection of Rs.200 billion sales tax, 100 billion is  embezzled by the fraudsters and the  real taxpayers have to adjust it in their  accounts. He assured that he would  evolve a comprehensive strategy for  this sector in consultation with Mr. Asim  Qadri, President Pakistan Foundry  Association (PFA) before the next budget. Responding to a question about the revival of Karachi Steel Mill, he said that apparently it  seems impossible, however we could establish at least two new steel mills by  selling its assets to provide pig iron to  the domestic industry. Similarly, he also assured to streamline the availability of  hard coke and said that iron ore has  been detected from Chiniot and we must  set up a steel mill there to avail this reserve. Dr. Khurram said that the biggest cane crusher of Louisiana (USA) is made in Pakistan and it means that our foundry owners have potential to manufacture world quality products for export purposes. He said that for the business growth it is imperative to involve our new generation so that our practical  experience of 40-50 years could be  transferred to them. He said that FCCI  was ready to extend full support to the  local foundry owners in this regard.  Earlier Mr. Ashfaq Ashraf said that the  foundry sector of Faisalabad has been  manufacturing agriculture appliances  and water pumps in addition  to the sophisticated parts of textile and  other machineries. However, he admitted that they failed to introduce new technology in this sector. He said that Mr. Asim Qadri of PFOA is expected to visit Faisalabad next week and he would try to arrange his meeting with  Dr. Khurram Tariq. Haji Muhammad Aslam Bhalli was also present during  this meeting. 

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