Trade-friendly atmosphere to investors: bureaucracy main hurdle, says PCGA

May 19, 2014- BR Report

Pakistan Cotton Ginners Association (PCGA)
Pakistan Cotton Ginners Association (PCGA)

Pakistan Cotton Ginners Association (PCGA) has said that though Prime Minister Nawaz Sharif has assured to provide trade friendly atmosphere to foreign as well as local investors and multi-national companies yet the bureaucracy was main hurdle in this way which was reluctant to implement the government policies.

Consequently, multi-national companies could not supply well germinated, certified and disease resistant seed to the cotton growers in the country.

Talking to a delegation of Monsanto headed by its country manager Aamer Mehmood Mirza, PCGA office-bearers Mukhtar Ahmed Khan Baloch(Chairman) Aasim Saeed Sheikh (Vice Chairman) former chairman, Haji Muhammad Akram, Amanullah Qureshi, ex-vice chairman Shehzad Ali Khan, Rao Sadauddin, Suhail Mehmood Haral, Mian Akhtar Javed, Mudassar Hussain, Khalid Pervez Khan, Muhammad Nadeem and Asif Khalid said that Pakistan is emerging as a leading country lucrative for investment because of provision of one-window facility to investors in all sectors, including energy, to help expedite entire investment process.

He said that there was no restriction on foreign investors to transfer their profits back to their home countries and those foreign entrepreneurs should benefit from this investment-friendly atmosphere to the maximum.

Taking advantage of these incentives Multi-national seed companies should help the cotton growers to increase the production up to 16 million bales. Similarly, production wheat, rice, sugarcane, maize, pulses and oil-seeds could be enhanced by 100 percent. They said that if agriculture is the backbone of the country’s economy then seed is the back bone of agriculture as seed is the starting and the ending point of any crop. Good quality seed gives first sign of good hope to the farmer.

They said that economic indicators were improving because of effective measures taken by the Pakistan Muslim League-Nawaz (PML-N) government led by Prime Minister Nawaz Sharif and that Pakistani rupee had appreciated about 15 percent against US dollar recently. Muhammad Ilyas Nadeem and Javed Murtaza were part of Monsanto delegation.

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