The business community has underlined the need for maintaining political stability, saying that it is a prerequisite for sustained economic growth and coping with multiple challenges faced by the country.
Speaking to members of the core committee of the United Business Group on Wednesday, Saarc Chamber of Commerce and Industry (CCI) President Iftikhar Ali Malik said politics of confrontation, agitation, violence and protest was not the solution.
He said time had changed as now influential nations were paying more attention to financial warfare to continue their dominance.
“It is important to increase our exports and for that purpose, we need to reduce cost of doing business so that our products can remain competitive in the international market,” he said. According to Malik, trade facilitation is the key to promoting industries and Pakistan needs to remove all obstacles and create a culture of trade facilitation. He stressed that the country possessed tremendous potential because it had enormous talent.
“What we need is consistency in government policies and a clear roadmap to move forward,” he added.
He was of the view that all sectors of the economy should meet their national obligations and play a key role in strengthening the economy while the government should introduce reforms and control smuggling of raw material and finished goods. Malik urged the government to conduct market research to find out new foreign destinations for Pakistani products.
Pakistani missions abroad should be duty bound to introduce Pakistani products to foreign buyers and also ensure dissemination of trade-related information so that Pakistani entrepreneurs could avail trade opportunities.
Published in The Express Tribune, October 15th, 2020.
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