MULTAN, June 6th: Renowned industrialists, ex-President of Chamber of Commerce & Industry Multan & Dera Ghazi Khan and former Punjab caretaker minister for Industries Khawaja Jalal uddin Roomi stressed the need for a comprehensive Corona Revival Plan and said that COVID-19 is an opportunity to revisit economic policymaking and develop a national economic plan with broad consensus. Government must prioritize the welfare of the common man with food and basic supplies and services. He suggested that Government should announce a special revival package for the youth and a relief package for the common man. Submitting his budget proposals at a video conference attended by Prime Minister's advisor for Finance Dr.Abdul Hafeez Sheikh, PM's advisor on Commerce, Investment and Industry Abdul Razak Dawood, Federal Minister for industry and production Hammad Azhar, Chairperson of FBR Nausheen Javed Amjad, Khawaja Jalaluddin roomi said that next National budget for 2020-21 was a test case for the Government and it should introduce far-reaching reforms enabling the most vulnerable segments of the society to absorb the economic shocks and supporting the small and medium enterprises (SMEs) to tackle disruption in economic activities.He suggested that Government should increase the minimum wages up to Rs.20,000/-for industrial workers. He said agriculture needed special attention because it is the economy’s backbone. He highlighted the need for water policy and better water management. The textile sector was dependent on cotton. “And we must have policies and incentives to move to higher-end farm products.He said that cotton production must be increased to 20 million bales and we should avoid exporting raw cotton or cotton yarn.instead, we should pay attention to value addition to engage the maximum number of workers to end unemployment. He reiterated his demand to export garments, stitched, and finished goods.He said that reforms are needed at the micro-level, whereas the policy space focuses on the macro. We must rethink the role of government so that they have a greater role in education and health service to the people.Roomi said the jobs creation must be another key consideration for the government to respond to the growing unemployment which was resulted in the aftermath of coronavirus.He said amid global economic slowdown due to corona pandemic, the financial losses to textile export industries were multiplying every day and exporters were facing severe liquidity crises. He said that with a view to keep the industry live major problem is cash flow and the zero-rating facility is the only way for survival.Khawaja Jalaluddin Roomi asked PM Imran Khan to announce the previous system of ‘No Payment No Refund’ at least for one year to save the export industry, as FBR claim of instant refunds release has totally failed,especially in the challenging time of global epidemic when the foreign buyers have also held the payments for indefinite time.He was of the view that the country’s exports decreased by almost 50 per cent while home remittances also declined significantly due to closure of global markets while another 25 per cent decline in exports is expected.He said."“Payments of already shipped goods in Jan, Feb and March from foreign buyers have been held for indefinite period. “We don’t have liquidity in hand to run the industry in coming months, so we are seeking restoration of zero rating regime to run the wheel of industry,”He expressed his serious concerns over severe liquidity crunch owing to non-payment by the international buyers for an indefinite period amidst worldwide lockdown due to pandemic.He further suggested that Government should provide interest-free loans to educated and skilled youths to stand them on their own feet and to promote small and Medium enterpreneurs.Roomi suggested to freeze the tariff of electricity and gas for one year period because POL products rates fell by 67 percent.PM's advisors Dr.Sheikh Abdul Hafeez, Abdul Razak Dawood and Federal Minister Hammad Azhar appreciated the proposals of Khawaja Jalaluddin roomi describing them viable and far-reaching.They assured that these suggestion would be made a part of next budget to be announced on June 12.
