TC Jan-Feb 2021 Issue

TRADE CHRONICLE
Leather Industry
Prime Minster of Pakistan Imran Khan has awarded
“Ambassador of Hope “ award to S.M.Muneer
S. M. Muneer is a businessperson
who has been at the head of 8 different
companies. Currently, Mr
Muneer occupies Chairman
of Din Textile Mills Ltd.
Form Chairman of Korangi
Association of Trade &
Industry, former Chairman of
Friends of Burns Centre and
President at India-Pakistan
Chamber of Commerce &
Industry.
He is also former President of
Federation of Pakistan Chambers
of Commerce and Industry, former
Rs 1.7 billion will be paid in 10 days
in terms of duty drawback (DLTL) of
industrialists affiliated to the leather
sector, while Rs 2.5 billion in duty
drawback will be paid in three stages.
This was stated by Federal Minister
for Finance Abdul Hafeez Sheikh
on the occasion of a meeting with a
delegation of industrialists affiliated
to the leather industry led by Danish
Khan, Chairman, Pakistan Leather
Garments Manufacturers and
Exporters Association (PLGMEA) in
Islamabad. The delegation included
Patron-in-Chief PLGMEA, Fawad Ejaz
Khan, Irfan Iqbal, Chairman FBR Javed
Ghani, Special Assistant to the Prime
Minister for Revenue Waqar Masood,
Trade Adviser Razzaq Dawood,
Climate Change Secretary Naheed
Chairman for Pakistan Tanners
Association, Chairman of Chiniot
Anjuman Islamia, Member
of World Hypertension
League, Founding Member
at Pakistan Hypertension
League and Founding
Member at Trust for Vaccines
& Immunization and on the
board of 15 other companies.
In his past career. Muneer
was Chief Executive Officer at Trade
Development Authority of Pakistan and
President at Federation of Pakistan
Chambers of Commerce & Industry.
Billions of rupees will be paid to industrialists in DLTL
soon: Finance Minister Hafeez Sheikh
A Group photo with Federal Minister for Finance Abdul Hafeez Sheikh,
Chairman PLGMEA Danish Khan, Chairman FBR Javed Ghani, Special
Assistant to the Prime Minister for Revenue Waqar Masood, Trade Advisor
Razzaq Dawood, Climate Change Secretary Naheed Durrani, Commerce
Secretary Saleh Farooqi, Patron-in-Chief PLGMEA and Fawad Ijaz Khan.
Durrani and Commerce Secretary
Saleh Farooqi were also present.
Speaking to the delegation, Federal
Minister for Finance Abdul Hafeez
Sheikh said that all possible facilities
would be provided to the exporters
associated with the leather industry so
that the industrialists could play their full
role in increasing the country’s exports.
On the occasion, Chairman PLGMEA
Danish Khan said that the Corona
pandemic has adversely affected
the economic condition of the world,
including Pakistan, so the DLTL scheme
should be extended to 2025-26 for the
development of the export sector and
relief should also be provided in freight
subsidy.
Chairman PLGMEA
said that he welcomed
the steps taken by
the Prime Minister
for the industrial
development and
hoped that steps
would be taken
in this direction to
ensure uninterrupted
supply of energy
and reduction of the
production cost of
industries.
Italian Ambassador visits
to IPFTC in Lahore
Italian Ambassador H.E Andreas
Ferrarese paid a visit to Italy-Pakistan
Footwear Technological Center
(IPFTC) in Lahore recently. The Italian
Government has provided all the
machinery and technical assistance for
this Project. PFMA Chairman Mr Imran
Malik said Pakistan will fully utilize this
facility to develop Footwear Industry
to produce high-quality shoes using
new technologies to make it a major
exporting industry of Pakistan.
Italian Ambassador H.E. Andreas
Ferrarese lauded the project progress
and praised PFMA chairman on
successful running it. He underlined
that the youth of Pakistan is full of high
potential. If appropriately utilized by
enhancing their skills, we can make
them productive. Indeed the Project
of IPFTC aims to train the youth
innovatively to take full advantage of
the footwear industry and gracefully
earn their livelihood.
IPFTC will offer a complete environment
for the footwear industry to adapt to
the most advanced techniques to
develop quality products and enhance
their existing skills to meet the everchanging
demand of the international
market. Our cooperation will continue
to thrive upon with more business
opportunities.
This innovative project will be a
stepping-stone toward the betterment
of Pakistan Footwear Industry in the
long run and help provide support to the
local footwear industry to better equip
themselves with the latest techniques
and skills of contemporary footwear art.
TRADE CHRONICLE - Jan - Feb - 2021 - Page # 17