ISLAMABAD ( WNAM REPORT): In a bid to stabilize Pakistan’s economic landscape, the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) presented a detailed Charter of Economy to Finance Minister Senator Muhammad Aurangzeb during a pivotal meeting held on Tuesday.
The FPCCI delegation, led by its President Atif Ikram, accompanied by Patron-in-Chief S. M. Tanveer and Senator Noman Wazir, emphasized that the charter was designed to achieve political consensus on economic strategies. It aims to pull Pakistan out of its financial struggles by focusing on sustainable growth, improved industrial performance, and enhanced trade policies.
During the presentation, Senator Noman Wazir detailed strategic recommendations, including the adoption of renewable energy solutions like solar and wind power. The FPCCI suggested limiting wheeling charges under the Competitive Trading Bilateral Contract Market (CTBCM) to Rs 4 per kWh to reduce energy costs for industries.
The charter also emphasized the need for a stable exchange rate to boost exports while deterring imports that fail to meet Pakistan Standards and Quality Control Authority (PSQCA) regulations. It further called for transferring ownership of State-Owned Enterprises (SOEs) to employees to improve governance, drive privatization where needed, and empower workers by converting pension funds into equity stakes.
Other key recommendations included progressive taxation in the agriculture sector, digitalization of financial systems, and improved bankruptcy laws. The FPCCI urged the government to prioritize regional trade and channel at least 20% of lending toward long-term CAPEX and 10% toward startup CAPEX to accelerate business growth.
Finance Minister Muhammad Aurangzeb appreciated the FPCCI’s initiative, emphasizing that sustainable economic recovery requires comprehensive reforms, not just short-term fixes. He shared insights on ongoing reforms in taxation, energy, and governance, promising continued government support for industrialization and export growth.
The FPCCI delegation acknowledged the Finance Minister’s efforts in improving economic indicators and encouraged the government to resolve pressing issues like energy costs for industries to foster sustained growth.
With leaders from key business sectors present — including Atif Ikram (FPCCI President), Senator Noman Wazir (FF Steel), and MNA Dr. Mirza Ikhtiar Baig — the meeting highlighted a collaborative effort to implement robust reforms and build a stronger economic foundation for Pakistan’s future.
