Government Must Incentivize Private Sector Growth: ICCI President
ISLAMABAD ( WEB NEWS )
Nasir Mansoor Qureshi, the President of the Islamabad Chamber of Commerce and Industry, has emphasized the importance of dialogue for addressing Pakistan’s current political turmoil. He called for a shift away from aggressive tactics and urged the political leadership to seek de-escalation and create a stable environment for both political and economic growth.
Qureshi highlighted the government’s responsibility to maintain political stability by engaging all relevant stakeholders and adopting a measured approach. He warned that the ongoing political instability, combined with rising uncertainty, security concerns, and escalating business costs, is pushing local industrialists to relocate abroad, resulting in job losses and diminished investment.
Furthermore, Qureshi criticized bureaucratic inefficiencies that cause delays in investments and expressed concern over the negative impact of high energy costs, irrational taxes, and an uneven business playing field, particularly for small and medium-sized enterprises.
To address these issues, Qureshi urged the government to foster private sector growth by offering incentives, simplifying regulations, and enhancing access to finance.
Qureshi also stressed the importance of long-term policy stability to restore investor confidence and promote sustainable economic growth. He pointed out that frequent policy shifts and a lack of clear direction from the government have created an unpredictable business environment. To foster a climate conducive to investment and growth, he called for a more consistent approach to economic policymaking, ensuring that businesses can plan and operate with confidence. Additionally, he urged the government to focus on improving the ease of doing business, addressing infrastructure challenges, and prioritizing human capital development to build a competitive and resilient economy.