Karachi, February 28, 2022 (PPI-OT):Momin Ali Malik, a young leader of United Business Group (UBG), a member of the Executive Committee of LCCI, Senior Executive Guard Group, has repeatedly raised fuel and electricity prices and in particular but in a statement, Momin Ali Malik said that the increase was making our export-oriented industries uncompetitive.

“Long-term planning has become impossible for industries and businesses. Agriculture is a major supplier of raw materials for our export sectors, especially in the cotton sector, which is under severe pressure due to non-availability of quality seeds,” he said. Is a victim of Momin Ali Malik said that it was unfortunate that the government had imposed sales tax on the import of quality seeds of different crops. It is worth mentioning that the imported hybrid seed of rice and maize is a success story.

He said that the government has also imposed sales tax on companies involved in research and development of hybrid seeds locally, adding that the government should reconsider this policy. The young business leader said that the government should open more doors of trade with Russia and ensure the establishment of banking channels, Pakistan’s trade with Russia is less than one billion dollars, improving banking and customs system and Prime Minister Imran Khan’s visit to Russia positive If the effects are felt, exports from Pakistan to Russia may increase.

Momin Ali Malik said that young leadership has entered FPCCI and United Business Group leaders Iftikhar Ali Malik and SM Munir have started selecting young businessmen to lead the business community and they will soon join FPCCI. I will serve the business community as a member of the Executive Committee and General Body.

For more information, contact:
United Business Group (UBG)
Room No: 203, Second Floor,
Aiwan-e-Sanat Plot No.ST-4/2, Sector 23,
Korangi Industrial Area, Karachi, Pakistan
Tel: +92-21 35062200
Cell: +92-321-8261426