KARACHI: Patron-in-Chief of the United Business Group (UBG) and the Korangi Association of Trade and Industry (KATI) SM Tanveer on Thursday stressed the need for coordinated efforts to strengthen Pakistan’s economy, improve the investment climate and restore confidence in the business sector.
Speaking at an event, Tanveer said the government is fully aware of the tax-related and other challenges facing traders and industrialists and is working to address them. He added that several positive measures are expected in the upcoming budget, which are likely to benefit the business community.
Tanveer said he has been touring the country under the federation’s platform to help formulate a practical strategy for economic improvement. He added that Pakistan is in safe hands and that all stakeholders must play their part in the country’s progress. “The country today needs unity and solidarity,” he said, adding that just as national cohesion has been visible in Iran, Pakistan too needs a similar spirit of collective commitment to achieve economic recovery and prosperity.
He urged traders and industrialists to bring their capital back to Pakistan, noting that while their businesses operate in the country and their children study here, their wealth is often transferred abroad, which harms the national economy. “If we truly love our country, we should bring our money back to Pakistan,” he said.He added that the government is expected to introduce economic policies aimed at encouraging business activity and creating a more conducive environment for investment.
