FPCCI seeks industry status for packaging sector in Pakistan
Last updated on: 11 April,2023 12:31 pm
Minister Syed Murtaza Mahmud importance of packaging sector could not be ignored in national economy
LAHORE (Web Desk) – A Federation of Pakistan Chambers of Commerce and Industry (FPCCI) delegation led by Regional Chairman and Vice President Muhammad Nadeem Qureshi met with Federal Minister for Industries and Production Syed Murtaza Mahmud at Pak Secretariat Islamabad.
On occasion, Muhammad Nadeem Qureshi said that the packaging sector is the backbone of all industries and the government should grant industry status to it in order to reap maximum benefits.
Syed Murtaza Mahmud assured full cooperation and said that the importance of the packaging sector could not be ignored in the national economy. The issues of industrialists and businesses associated with this sector will be resolved on a priority basis. He added that the packaging sector would be given industry status and that the problem of not opening the raw material letter of Credit (LCs) would also be resolved.
Nadeem Qureshi said all the packaging sectors contribute their share in indirect export by providing international standard packaging to various export industries. The total exports of Pakistan to the world stood at $31.8 billion in 2022. Out of which, the Packaging sector's indirect share is approximately $3.18 billion.
He added that the raw material of the packaging sector should be included in the essential import list. He said after the Industry status, the government would get more revenue in terms of sales and income taxes.
Nadeem further said that the packaging industry is one of Pakistan's leading and creative sectors as it works as the major backbone to fulfil the export-oriented and domestic industry's requirements.
FPCCI Former Senior Vice President, Khawaja Shahzaib Akram, Vice President of Lahore Chamber of Commerce and Industry (LCCI) Adnan Khalid Butt, Chairman of All Pakistan Corrugated Cartons Manufacturers Association (APCCMA) Zaki Ijaz Qureshi and Muhammad Shahid Baig were included in the FPCCI delegation.
Adnan Khalid Butt and Zaki Ijaz Qureshi also briefed the minister regarding the packaging industry.