https://twitter.com/home https://www.facebook.com/Shabbir.Hussain191
By Shabbir Hussain
ISLAMABAD, Jan 12 (Alliance News):The Islamabad Chamber of Commerce and Industry organized a conference with an aim to revive the national economy, besides focusing on imports substitution and exports promotion in the country.
The prominent business leaders, well known economists from across the country included Shehzad Ali Malik Chairman United Business Group (Lahore), Dr. Gohar Ejaz Patron-in-Chief All Pakistan Textile Mills Association (Lahore), S.M.Tanveer former Chairman APTMA (Karachi), Ghazanfar Bilour (Peshawar) & Engr. Darood Khan Achakzai (Quetta) former Presidents FPCCI, Khalid Tawab former Senior Vice President FPCCI (Karachi), Qazi Akbar Vice President FPCCI (Chakwal), Khalid Iqbal Malik Group Leader ICCI, Zafar Bakhtawari Secretary General UBG, Haji Afzal former President Sarhad Chamber of Commerce & Industry (Peshawar), Naima Ansari former Vice President FPCCI (Islamabad) were participated and addressed the conference.
The business leaders discussed key issues being faced by the economy and
passed a solution unanimously to steer the economy out of the current
economic crisis.
The resolution called upon the government to cooperate with
the private sector in enhancing imports substitution and diversification of
products basket and markets to boost the exports that would help in reviving the
fragile economy of the country.
The resolution said that being an agricultural
country, Pakistan is spending US$ 12-13 billion on the import of wheat, cotton,
pulses and edible oil and stressed that their imports substitution in the country
would save this amount and produce exports surplus as well.
The resolution said that Pakistan is making 70% exports of only 3-4 products and demanded that the government should support the business community in increasing the exports of IT, engineering goods, pharmaceuticals and other products.
The resolution said that the shortage of dollars is the main cause of the rising economic crisis in the country and stressed that the government should consider offering 10 years’ tax holidays on depositing dollars in banks to improve forex reserves of the country.
The resolution further demanded that the government should also consider
offering a bonus scheme to exporters and foreign remitters to cover the
difference between bank and open market dollar rate.
The resolution urged that the government should privatize all loss making public sector enterprises including PIA, Pakistan Steel Mills, Pakistan Railways and electricity companies
that would save around Rs.1000 billion annually.
Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and
Industry welcomed all the business leaders to the Conference and stressed that
the government should evolve a new strategy in consultation with the business
community to address the current economic troubles.
Faad Waheed, Senior Vice President ICCI thanked the business leaders and all the
participants of the Conference and hoped that the resolution passed by the business leaders would be given due consideration by the government for
implementation.