Presidents of the country’s major chambers of commerce met Prime Minister Imran Khan in Islamabad. The meeting is part of a series initiated by the Ministry of Commerce to exchange ideas and raise awareness on government policies between the government and the business community.
The President of the Federation of Pakistan Chambers of Commerce and Industry, as well as the Presidents and Vice Presidents of the Chambers of Commerce of Karachi, Lahore, Peshawar/KPK, Quetta, Gujranwala, Sialkot, Faisalabad, Gujarat, Multan, Sargodha, Gwadar, Islamabad, and Rawalpindi, were present at the meeting. The meeting was also attended by Federal Ministers Hamad Azhar, Makhdoom Khusro Bakhtiar, Advisor on Commerce and Investment, Abdul Razzaq Dawood, Special Assistant, Dr. Shahbaz Gill, Governor State Bank of Pakistan, Dr. Raza Baqir, and other important authorities. Shaukat Fayyaz Tareen, the Finance Minister, took part through video link.
The attendees congratulated the Prime Minister and his economic team for the country’s excellent economic measures, which have resulted in a GDP rise of roughly 4% and a 15% increase in large-scale manufacturing despite the COVID-19 epidemic. They also praised SBP for offering export-related facilities, incentives for medium- and small-scale enterprises (including machinery loans), and for bringing the Uzbekistan business community along to take use of the country’s trade potential. They also praised the Prime Minister for increased tax income, exports, and remittances.
Furthermore, the participants praised the incumbent government’s initiative to immediately listen to the proposals of the business sector in order to solve their difficulties. Furthermore, the distance between the government and the business community was mentioned, since there had been no such initiative in the past, which posed barriers to doing business in the country.
Furthermore, the meeting’s participants stated that the business community is willing to pay taxes and work with the government to change the tax system.
The Prime Minister emphasised the importance of industrial development in strengthening the country’s economy, saying that the government is assisting industries in increasing exports, which will not only reduce the trade deficit but also increase the country’s foreign exchange reserves and create job opportunities.
He also stated that reforms are now being implemented to strengthen the tax system, and that dialogue with all stakeholders will be beneficial to the process.
The Prime Minister asked the Federal Ministers to meet on a regular basis in order to stay in touch with stakeholders and hear their ideas and concerns. In addition, the Prime Minister stated that a tourism development strategy, a comprehensive agricultural plan for the development of the agriculture sector, as well as incentives are being provided to the industries.
After giving facilities to industrialists and the business community, the existing government is now concentrating on efforts to solve concerns through consultation.