Chaudhry Khadim Hussain, a former executive committee member of the Lahore Chamber of Commerce and Industry (LCCI), has called on Prime Minister Shehbaz Sharif to implement transformative measures for the marble and granite industry in Punjab. Emphasizing the sector’s potential to generate substantial foreign exchange, Hussain advocates for strategic reforms to promote value-added exports and enhance industrial efficiency.
Prioritizing Value Addition
Hussain urged the government to ban the export of raw marble and granite, recommending instead the export of value-added products such as tiles and slabs. This shift, he argues, would significantly boost foreign exchange earnings while creating more jobs and fostering economic growth.
Key Reforms for Industrial Growth
In an interview with Business Recorder, Hussain highlighted several critical measures needed to support the marble and granite sector:
- Affordable Energy Supply
Extending subsidized electricity rates beyond the textile and garment sectors to include export-oriented industries like marble and granite would reduce production costs and increase competitiveness. - Interest Rate Reduction
Lowering the interest rate to 6% could stimulate industrial growth, enabling businesses to expand operations and create more employment opportunities. - Access to Bank Financing
Hussain appealed to Chief Minister Punjab, Maryam Nawaz Sharif, to facilitate easier access to bank loans for machinery purchases, enabling manufacturers to modernize and increase efficiency. - Improved Infrastructure
Investing in road upgrades, especially in mining areas, is crucial for ensuring the smooth transportation of raw materials and finished products, minimizing logistical challenges. - Vocational Training and Skill Development
Establishing training centers in partnership with the Technical Education and Vocational Training Authority (TEVTA) would equip workers with advanced skills in stone cutting, polishing, and other industry-relevant techniques. Collaborations between educational institutions and industry players could further align training programs with evolving sector needs. - Modern Technology Adoption
Encouraging the use of advanced mining and processing technologies would enhance productivity, improve product quality, and reduce waste.
Streamlining Bureaucracy and Boosting Exports
Hussain also called for reducing bureaucratic hurdles in obtaining licenses and permits for mining, processing, and exporting marble and granite products. Additionally, he stressed the importance of facilitating participation in international trade fairs, where manufacturers can showcase Punjab’s diverse and high-quality products to global buyers.
A Pathway to Economic Growth
The marble and granite industry in Punjab holds immense potential to drive economic progress. By implementing these strategies, the government can create a more supportive environment for the sector, unlocking its full potential and contributing significantly to the provincial economy.
Source: www.brecorder.com