Consistency in Economic Policies Essential for Stability, Growth: RCCI President

RAWALPINDI ( WNAM REPORT):  The Rawalpindi Chamber of Commerce and Industry (RCCI), has emphasized the urgent need for a charter of economy to ensure policy continuity and economic growth. RCCI President Usman Shaukat while addressing the All Pakistan Chambers Presidents Conference (APCPC) in Rahim Yar Khan, urged all key stakeholders to collaborate in formulating a comprehensive industrial policy to tackle economic challenges and promote sustainable development. Senior Vice President Khalid Farooq Qazi and representatives from other chambers were also present on the occasion.
Highlighting the increasing cost of production, Shaukat stressed that Pakistan’s economic and industrial activities have significantly shrunk. “We need a clear and well-structured industrial policy that is developed in consultation with all stakeholders,” he stated. He pointed out that Pakistan is currently facing multiple economic challenges, including an energy crisis, and emphasized the necessity of promoting renewable energy and green energy solutions. “Without industrial promotion, economic progress is impossible,” he asserted.
Shaukat also underscored the importance of policy continuity in achieving economic stabilization and growth. “Consistency in economic policies provides stability, predictability, and confidence to investors and businesses,” he remarked. He praised the efforts of the Special Investment Facilitation Council (SIFC) in promoting economic stability by facilitating investments, streamlining business processes, and addressing investor challenges.
To enhance transparency and accountability, Shaukat suggested that e-governance and digitization must be prioritized to curb corruption and ensure a more transparent system.
The RCCI President reiterated that Pakistan’s economy could be placed on a path of stability by focusing on industrialization. He emphasized that the industry plays a pivotal role in the economic success of any country and highlighted the crucial contribution of SMEs in driving industrial growth. “The promotion of industry will not only spur economic growth but also create more job opportunities, ensuring prosperity for the labor class,” he concluded.