Pakistan has the potential to earn billions of dollars from marble export
This was revealed by the President of Islamabad Chamber of Commerce and Industry (ICCI).
Pakistan has the potential to earn billions of dollars from the export of marble products, and the government should address the issues pertaining to the marble sector to harness its potential.
This was revealed by the President of Islamabad Chamber of Commerce and Industry (ICCI), Muhammad Shakeel Munir, at a ceremony of the All Pakistan Marble Industries Association (APMIA) on Saturday.
According to Munir, Pakistan is gifted with vast reserves of marble. However, the South Asian country could not exploit its potential due to insignificant machinery and lack of modern technology.
Munir lamented that around 70% of marble products go to waste due to non-mechanical manual extraction.
He suggested that the authorities should allow the duty-free imports of machinery so that the marble sector can produce more value-added products and, in return, increase the South Asian country’s exports.
The ICCI President also disclosed the adverse effect of the high electricity tariff on the country’s marble sector’s growth.
Hence, he urged the authorities to either provide subsidies or tax exemptions on electricity bills of the industry.
Munir also underlined the ever-soaring freight cost for marble exporters.
He stressed that the authorities should provide a volume-based freight subsidy or rebate to ease marble exporters’ problems.
Meanwhile, the ICCI President maintained that the government should also provide financial support to the marble sector at global trade fares as this would significantly increase the South Asian country’s exports.
Munir also urged that the authorities should grant the legal right of querries to the investor.
He urged that providing legal rights would “yield more beneficial results for this sector.”
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