USD 20 billion increase in exports can address the issues of economy – Shahid Khaqan Abbasi
In order to boost industrialization, the government should provide free land on lease to the industry.
Free and fair elections are vital to stabilize the economy.
ISLAMABAD ( Web News )
Former Prime Minister of Pakistan and senior leader of PML(N) Shahid Khaqan Abbasi said that if exports are increased by 20 billion dollars, the economy can get out of difficulties. In order to boost industrialization, the government should provide free land on lease to the industry. Free and fair elections are vital to stabilize the economy. 3 times free and fair elections would address all issues of the country and put it on sustainable development. To steer Pakistan out of the current crisis, the entire leadership of the country has to sit together and take tough decisions for
the better economic future, otherwise the inter-institutions fight will prove disastrous for the country. It is difficult to promote investment in Pakistan in the presence of NAB because investors are reluctant to invest in Pakistan due to NAB’s actions. If local investors will not invest in Pakistan, then who will come and invest here, so if favorable conditions are created for local investors first, foreign investment will follow. Foreign ambassadors in Pakistan are promoting the business of their countries through trade diplomacy, but Pakistani ambassadors in foreign countries do not understand trade diplomacy. He expressed these views while addressing the business community during his visit to Islamabad Chamber of Commerce and Industry.
Speaking on the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) said that the economy of Pakistan is currently facing serious challenges due to which businesses are also suffering. The dollar flight, high electricity, gas and oil prices have increased the cost of doing business many times and if this trend continues, many businesses will close down. Therefore, the government should focus on creating conducive environment for businesses in consultation with the private sector so that the economy recovers. All loss-making SOEs should be privatized as the government is spending huge amounts of about PKR 1000 to keep them afloat, which is a huge burden on the national exchequer. He said that the ICCI wants to establish an industrial estate in the region so Shahid Khaqan Abbasi should support the Chamber in these efforts. He said that all political parties should agree on a charter of economy to ensure long-term economic policies.
Faad Waheed, Senior Vice President ICCI, said that to improve the economy, Pakistan has to promote industrialization and exports rapidly. So there is a need for the government to cut 22 percent interest rate to single digits and reduce energy prices to make our industry and exports competitive.
Khalid Iqbal Malik, Group Leader ICCI, said that every government should make economic policies in consultation with the business community, which will help in better promotion of trade and industrial activities. He stressed for one window operation and promoting ease of doing business.
Former President ICCI and Secretary General of UBG Zafar Bakhtawari said that if the rising dollar is not stopped, it will have disastrous consequences for the country, so the government should pay attention to this issue on an urgent basis. Pakistan should start direct flights with all important countries because at present PIA flights are not going to many countries including Europe and America, while flights of other countries are also not coming to Pakistan. He said that through the efforts of the Chamber, Ethiopia, Azerbaijan and Kazakhstan have started direct flights with Pakistan while Indonesia will also start its flights with Pakistan soon, but there is a great need to have direct flights with all important countries for promotion of trade and exports.
Muhammad Ejaz Abbasi, Ajmal Baloch, Akhtar Abbasi, and others also spoke on the occasion.