LAHORE: Senior Vice President SAARC Chamber of Commerce and Industry and founder Chairman Pak US Business Council Iftikhar Ali Malik has said that sustainable and durable economic stability is prerequisite for survival of the country and strengthening of democracy.
In a statement issued here on Monday, Iftikhar Ali Malik said that the PTI government should take all stakeholders into confidence to tailor a viable strategy to evolve new result and growth oriented judicious economic policies on war footings for the revival of economy.
He said despite the categorical assurance of Prime Minister Imran Khan, Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and other top leaders of corporate sector are not being taken on board by all policy and decision makers.
“It is time to diversify our businesses and have to add new products to attract maximum foreign buyers for Pakistani products”
The SVP SAARC CCI said that entire business community stands united with Prime Minister Imran Khan in this crucial crisis in the walk of IHK conflict but on the other hand his ministers, advisers, FBR, SBP must address the genuine grievances being confronted by traders from all sectors.
He stressed the urgent need for reshaping economic policy in line with global recession and help restore the confidence of foreign and local investors. He said at this point of critical juncture, government must come to the rescue of the business community by timely providing oxygen to business community and offering a package of incentives to small and medium traders.
Iftikhar Ali Malik said that all developed and advanced countries including USA, Korea, China, France, Germany, Russia worldwide attached great importance to the promotion of SME which always play vital and significant role in strengthening of economy.
Read more: Pakistan shortlisted for early 5G rollout
He said that our exports falling short of target which is not a good omen for the economy at all. He said that our exports are limited to a few merchandise and dependent on a few countries which was the biggest reason of decline in exports.
The SVP SAARC CCI urged the government to conduct market research to find out new destinations for the Pakistani products which are best in the world as far as quality and price is concerned. He said that Pakistani Missions abroad should be duty bound to introduce Pakistani products to the foreign buyers and also ensure dissemination of trade related information so that Pakistan entrepreneurs could avail trade opportunities to the maximum. “It is time to diversify our businesses and have to add new products to attract maximum foreign buyers for Pakistani products”, he added.
Iftikhar Malik who is also Chairman UBG said majority of traders, businessmen and industrialists and exporters have voiced their concerns about slowing down the pace of wheels of economy and government must take cognizance to arrest the gradual decline to save the industry from total collapse.
Entire business community is patriotic and paying taxes timely and wherever is taxation conflict that must be resolved amicably without effecting industrial growth, he concluded.
