Govt. mulls Sports Goods Expo to promote sports products– Dr. Fehmida Mirza

Govt. mulls Sports Goods Expo to promote sports products– Dr. Fehmida Mirza

ISLAMABAD ( Web News )

Dr. Fehmida Mirza, Federal Minister for Inter Provincial Coordination Division said the sports goods industry has huge potential to grow and contribute more effectively towards the economy, therefore, the government was considering to organize a Sports Goods Expo in collaboration with Islamabad and Sialkot Chambers of Commerce and Industry to promote the trade and exports of sports products. She said this during a meeting with a delegation of Islamabad Chamber of Commerce & Industry that called on her led by Muhammad Shakeel Munir President. Mian Akram Farid Chairman Founder Group, Jamshaid Akhtar Sheikh Senior Vice President and Faheem Khan Vice President ICCI were in the delegation. Col. (Retd) Muhammad Asif Zaman Director General Pakistan Sports Board, Arshad Nadeem Athlete who reached the final of men’s javelin and Weightlifter Talha Talib who finished 5th in the Tokyo Olympics 2021 were also present at the occasion.

Dr. Fehmida Mirza said that the government was in the process of developing an elite panel of athletes as a ready crop for sports promotion and stressed that the business community should extend financial support to them from its CSR funds so that they could participate in international events and bring more laurels to the country. She seconded the proposal of ICCI delegation for introducing a fixed tax regime for the trading community to improve tax revenue of the country. She assured the ICCI delegation that she would take up the highlighted issues of the business community with relevant authorities for redress.

Speaking at the occasion, Muhammad Shakeel Munir, President, ICCI said that Pakistan’s sports goods exports were reportedly around USD 241 million during July-May 2020-21, however, he said that the global sporting goods market was over USD 48 billion and Pakistan have good potential to capture better share in it with better focus on sports industry. He appreciated the initiative of the government for organizing a Sports Goods Expo, which was the right move to promote the sports industry. He assured that ICCI would cooperate in making the Sports Goods Expo successful and suggested that such expos should be organized in foreign countries to introduce our sports products to international buyers.

Mian Akram Farid Chairman Founder Group stressed for a new industrial estate in the federal capital with an industrial cluster for sports goods as well. He said that the business sector was facing a huge burden of indirect taxation and emphasized that the government should focus on direct taxation and reduce indirect taxes that would provide good relief to the business community and reduce inflation for people as well. He further said that the government should provide various incentives to the high taxpayers to promote tax culture in the country.

Jamshaid Akhtar Sheikh Senior Vice President and Faheem Khan Vice President ICCI said that the business community has great concerns over the installation of POS in retail units by the FBR and urged that the government should focus on fixed tax and self-assessment scheme that would help improve tax revenue of the country.

The ICCI delegation also paid tributes to Pakistani athletes Arshad Nadeem and Talha Talib for their outstanding performance in Tokyo Olympics 2021 and assured them that the business community would support such athletes so that they could earn more achievements for Pakistan.