Sialkot, Faisalabad facing labor shortage due to increased industrial activity: Hafeez Sheikh
Sialkot, Faisalabad facing labor shortage due to increased industrial activity: Hafeez Sheikh
ISLAMABAD (Dunya News) - Federal Minister for Finance Hafeez Sheikh has said that the bounce back by automobile, cement, fertilizers and motorcycle industries have caused a shortage of labor workforce in Sialkot and Faisalabad.
In an interview on Saturday, the finance minister said that during coronavirus, the government took critical decisions regarding the economy, such as providing financial assistance to 15 million people, especially women, giving Rs 12,000 per family under the Ehsaas program, Kamyab jawan program for new job opportunities and incentives for the construction sector.
The electricity bills of small industries were paid by the government, repayment of loans of large industries was postponed for one year, payroll scheme was given for the employees of large industries so that they would not be unemployed and refunds of Rs 250 billion were given to the export sector.
Hafeez Sheikh said that due to government initiatives, textile exports have increased while automobiles, cement, fertilizer and motorcycle industries have also seen an improvement.
The Finance Minister said that at present, the government has a appositive balance of income and expenditure. Efforts are also being made to further reduce the prices of wheat and sugar by importing them, he added.
He said that Rs 36 billion has been set aside for the scheme of small houses, subsidy is being given on fertilizer to increase agricultural production. The prices of essential commodities have been falling steadily during the last five to seven weeks with prices of tomatoes, onions and other items coming down significantly.
Hafeez Sheikh said that despite the pandemic, tax collection has increased by 5% from July to November; the rich are being taxed and incentives are being given to industries
