FAISALABAD: Faisalabad Chamber of Commerce & Industry (FCCI) President Farooq Yousaf Sheikh has called for extraordinary creativity and strategic thinking from trade and development officers to tackle mounting economic challenges arising from rapidly changing global dynamics and tensions in the Gulf region.
Addressing officers of the 31st Special Training Program of the Pakistan Institute of Trade and Development (PITAD) via a Zoom meeting, he stressed the need for innovative and diversified approaches to safeguard the national economy.
He highlighted Faisalabad’s pivotal role in national exports, import substitution, economic stability and job creation and said that this city continues to provide a conducive environment for industrial growth and new investments.
He said that despite difficult circumstances, Prime Minister Shehbaz Sharif and Field Marshal Syed Asim Munir have achieved significant diplomatic successes, contributing to economic stability.
Referring to fuel availability, he said that effective administrative measures by the government have ensured uninterrupted supply of petroleum products despite rising prices, in contrast to shortages being witnessed in some neighboring countries.
He appreciated the efforts of Punjab Chief Minister (CM) Maryam Nawaz and Divisional Commissioner Raja Jahangir Anwar for restarting stalled development projects and improving coordination between the administration and business community.
Farooq Yousaf Sheikh said that unlike the past, when industries were shut down in difficult situations, the administration is now working in collaboration with the chamber to ensure compliance and continuity of industrial operations.
He informed that a memorandum of understanding has been signed through mutual consent for the relocation of industries from urban areas, with full coordination between the administration and the chamber. The government is also facilitating relocating industries by providing land and other incentives, he added.
He further elaborated on initiatives aimed at transforming Faisalabad into the country’s first circular textile city by effectively managing industrial waste from the textile sector.
During an interactive session, he said that proposals for the revival of sick industrial units have been submitted to the government.
He also stressed the importance of introducing applied subjects in local universities to align education with industrial needs and improve product quality.
Later, Senior Vice President FCCI Naveed Akram Sheikh thanked the participants for their engagement in the session.
