Economy heading in right direction: Alvi

The government is taking steps to improve business environment in the country by providing various incentives and facilities to the business community, said President Arif Alvi.

Talking to a delegation of the Haripur Chamber of Commerce and Industry (HCCI) on Wednesday, he said that the economy of Pakistan was heading in the right direction on the back of revival of confidence of the business community in economic policies of the government.

He added that the business community was playing a vital role in the economic development and the government took a number of steps to facilitate traders, particularly during the Covid-19 pandemic.

“Despite financial constraints, the government provided a stimulus package of Rs1.2 trillion to protect businessmen and the underprivileged strata of society from the adverse impact of the pandemic,” he said.

“Country’s exports also recorded a significant surge and reached $25.3 billion in the previous fiscal year.”

He expressed satisfaction over the economic performance of the country, citing that tax collection of Rs850 billion by the Federal Board of Revenue (FBR) in the first two months of current fiscal year exceeded the target by Rs160 billion.

“This is a proof that economic health of the country is improving,” he said.

Alvi pointed out that the government was focusing on creating an optimum business environment and due to its efforts, Pakistan’s ranking on the World Bank Ease of Doing Business Index had improved from 136th position to 108th place.

Speaking on the occasion, HCCI President Shahbaz Majeed Sheikh apprised the president of the role being played by the chamber in economic development of the country.

The delegation also highlighted the problems being faced by the business community.

The president appreciated the role of the HCCI and the business community in national development and assured them of all possible support to help address their concerns.

Published in The Express Tribune, September 2^nd, 2021.

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