ICCI hopes new government to put economy on sustainable growth path

WNAM REPORT: Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) in a statement hoped that the newly elected government would put the economy on the path of a sustainable growth trajectory by taking priority measures to address the key issues of the business community and maximizing ease of doing business in the country. He said that Pakistan has plenty of natural resources and a great potential to emerge as a strong economy. He stressed that the newly elected government should focus on good governance and regulatory reforms to unlock the true economic potential of the country and make it a hub of business and investment activities.
Ahsan Bakhtawari said that the rising inflation, high energy prices, unaffordable bank markup, policy inconsistency, complicated regulatory regime, import restrictions, etc. are some of the major factors that are hindering the growth of business activities and emphasized that the newly elected government should engage the private sector in consultation to address these issues on priority basis and facilitate the better growth of trade and industrial activities in the country.
ICCI President said that the newly elected government should focus on enhancing regional trade to promote exports and investment opportunities. He said that the new government should encourage export diversification and cooperate with the private sector in producing value-added goods to boost exports. He said that the new government should facilitate the private sector in embracing digital transformation that would help foster innovations and create new jobs for youth. He reiterated that ICCI would extend all possible cooperation to the new government in endeavors targeted to make Pakistan a hub of business and economic activities.
Faad Waheed, Senior Vice President ICCI said that high energy costs in Pakistan have made the industry and exports uncompetitive and emphasized that the newly elected government should focus on renewable energy to reduce high production costs and make exports competitive in the international market.
Engr. Azhar ul Islam Zafar, Vice President ICCI said that streamlining the regulations and ensuring policy consistency should be the key focus of the newly elected government to attract local and foreign investment and promote business activities in the country.