Islamabad: Member Central Core Committee of UBG and former President of ICCI, Ahsan Zafar Bakhtawari, has urged the government to consult the business community and other stakeholders before making key economic decisions so that policies beneficial for business, industry, and the overall economy can be formulated, says a press release.
In his statement, he said that Pakistan urgently needs clear, effective, and long-term economic and industrial policies to restore investor confidence and pave the way for the establishment of new industries.
Bakhtawari stated that despite the increase in global oil prices, Pakistan continues to receive a steady supply of oil; therefore, pricing decisions should take into account the interests of both the business community and the general public. He emphasized that economic stability requires policies that promote industry, trade, and domestic commerce so that business activities can continue without disruption.
He further said that decisions regarding market timings, lockdowns, or other economic restrictions must involve the business community, as traders contribute significantly to the national tax revenue and play a key role in sustaining economic activity. He added that providing a conducive environment to traders would create new employment opportunities, increase industrial production, and boost exports.
Bakhtawari noted that Pakistan is emerging as a safe country on the global stage, and despite challenging regional conditions, the international community is willing to enhance economic cooperation with Pakistan. He said that Pakistan’s strategy during global challenges and conflict situations has highlighted the country’s positive image and strengthened international confidence.
He pointed out that the safe movement of Pakistani-flagged vessels through key global trade routes, particularly the Strait of Hormuz, reflects Pakistan’s growing importance and effective diplomacy, demonstrating its role in global trade.
He stressed the need for the government to formulate a comprehensive long-term industrial and commerce policy to provide clear direction to investors and encourage the establishment of new industries. He also called for a review of unnecessary restrictions, particularly those related to market timings, to further promote economic activity.
Bakhtawari said that criticism of the business community is unjustified, as it serves as a backbone of the national economy and contributes significantly to tax revenue. He assured that the business community will continue to fully cooperate with the government for the country’s development, as their future is tied to Pakistan.He concluded by expressing the commitment that the government and private sector should work together to develop policies that enhance investment, industry, trade.
