The Faisalabad Chamber of Commerce and Industry (FCCI) will help Faisalabad Dyes & Chemicals Merchant Association (FDCMA) double its business volume by establishing a bonded warehouse under the Faisalabad Industrial Estate Development & Management Company.

This was stated by FCCI President Dr Khurram Tariq while talking to an FDCMA delegation. He said as Faisalabad is the primary consumer of dyes and chemicals, their local production is imperative.

He said that joint ventures can also help develop downstream industries and create new job opportunities for the unemployed. He offered to help the FDCMA obtain industrial plots or dedicate a complete zone to the manufacture of dyes and chemicals in the M3 and Allama Iqbal Industrial Estates.

Dr Khurram requested FDCMA President Jawad Shafique to pinpoint his core issues so that the FCCI could help resolve them. He assured the FDCMA of a meaningful and result-oriented struggle to resolve their genuine issues.

He particularly mentioned tariff-related issues and said that he had the vision to establish a bonded warehouse in industrial estates. “It will not only resolve supply chain problems of importers but also help industrialists improve their cash flow,” he said, adding that huge capital is stuck up in the form of paid duties which could be utilised to increase the volume of their businesses.

Earlier, Jawad Shafique introduced the FDCMA and said that it has 375 members - a mix of importers, manufacturers, and traders. He termed his association the backbone of the textile industry and said that 70% of raw materials are imported through its members. Therefore, they must launch joint ventures for manufacturing dyes and chemicals at the local level.

He hoped that Dr Khurram Tariq would bring a positive change in the industrial, business, and commercial sectors of the city. Jawad Shafique assured his support to Dr Khurram Tariq in identifying and resolving the issues of the business community from the FCCI platform.

Credit : Independent News Pakistan-WealthPk