President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh, has expressed his approval of Prime Minister Shahbaz Sharif’s recent meeting with businessmen and industrialists.
In a statement, Sheikh emphasized that without establishing a competitive environment, increasing exports would be challenging. He highlighted that other countries in the region enjoy lower electricity rates compared to Pakistan, putting the country at a disadvantage in terms of competitiveness.
Sheikh stressed the importance of enhancing Pakistan’s global image to boost exports. He called for the removal of administrative barriers and the implementation of measures such as timely energy supply and competitive rates, including tax refunds, to facilitate industries.
Furthermore, Sheikh noted that industrialists and businesspersons in Pakistan bear the highest tax burden. He underscored the crucial role of industrialists and traders in economic development, urging immediate steps in consultation with stakeholders to reduce the production cost of exportable goods. This, he believes, would enable Pakistan to compete more effectively with other countries in the region.
