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Call on PM for regular interaction with trade bodies to revive economy

Call on PM for regular interaction with trade bodies to revive economy

ISLAMABAD: The Islamabad Chamber of Commerce and Industry has called upon the Prime Minister of Pakistan to have regular interaction with the leaders of trade bodies including major chambers of commerce and sectoral associations in order to listen to the problems of various business sectors and take required measures to resolve issues that would help in early revival of the economy.

Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that the leaders of many emerging economies adopted the practice of holding monthly meetings with the leaders of trade bodies and industrial associations that helped them to remove bureaucratic red tape and sort out issues on urgent basis that ultimately led to better growth of their economies. He stressed that the current government should adopt similar kind of approach in order to steer the economy out of prevailing challenges.

He said that the Prime Minister Imran Khan had shown great urge to learn from the experience of Chinese and Malaysian leaderships to turn around the economy of his country which was laudable. However, he said that the leaders of trade bodies and industrial associations were directly elected by the business community of the country and they were well-versed of the on-ground problems being faced by the business sector. He said the regular interaction of Prime Minister with the leaders of trade bodies/industrial associations would greatly help in removing bureaucratic hurdles and immediate redress of problems to put the economy on the path of sustainable growth.

Rafat Farid Senior Vice President and Iftikhar Anwar Sethi Vice President Islamabad Chamber of Commerce & Industry said that the Prime Minister Imran Khan had constituted a 22-member Council of Business Leaders to suggest measures for boosting exports, increasing investment and improving Pakistan’s ranking in ease of doing business. However, they said that more than 90 percent business enterprises in Pakistan were belonging to SME sector while chambers of commerce and sectoral associations were true representatives of SMEs. They said the interaction of Prime Minister with the leaders of trade bodies/industrial association on regular basis would enable him to understand the major issues of SMEs and take policy measures for creating a conducive environment for the growth of SMEs. They were optimistic that this approach would ultimately lead Pakistan towards fast economic growth and reduction in poverty and unemployment.