‘Economic, political stability a must for creating jobs’

SAARC CCI calls for removing obstacles to promoting industries

LAHORE: Economic and political stability is a prerequisite for generating the required 1.3 million jobs every year in a bid to cope with the multiple challenges facing the economy, said Saarc Chamber of Commerce and Industry (CCI) Senior Vice President Iftikhar Ali Malik.

Talking to a delegation of traders on Saturday, Malik said the time had changed and now influential nations around the world were focusing on financial warfare to continue their dominance.

“These countries are successfully using their weapons of economic destruction to weaken economies of poor nations in a bid to achieve their unholy designs and Pakistan’s economy is not strong enough to withstand the economic terrorism,” he remarked.

He considered it important to enhance Pakistan’s exports, for which the government needed to reduce the cost of doing business so that the country’s products could remain competitive in the global market. Terming trade facilitation the key to promoting industries, he stressed the need for eliminating all the obstacles and encouraging the culture of trade facilitation.

Integrated youth development key to tackling unemployment, says Dar

“Our country has tremendous potential and we possess enormous talent,” he said. “What we need is consistency of government policies  and a clear road map to move forward.” The business leader was the view that all sectors including the industrial sector should meet their national obligation and play due role in strengthening the economy while the government should introduce reforms and control smuggling of raw material and finished goods.

He urged the government to conduct market research in an attempt to search new export destinations for Pakistani products, which were considered the best in the world as far as quality and prices were concerned.

“Pakistani missions abroad should be duty bound to introduce Pakistani products there and ensure dissemination of trade-related information so that local entrepreneurs could avail trade opportunities to the maximum,” he said.

Stating the purpose of the United Business Group, Malik said it tried to ensure a business-friendly environment by sharing views with the government and by taking all the stakeholders on board on all economy-related issues.

Published in The Express Tribune, February 16^th, 2020.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.