Traders pin hopes on new govt
Vendors have set up stalls of shoes on a street in Rawalpindi, which according to local traders is possible on payment of grati-fication to RMC officials. PHOTO: EXPRESS
Businessmen have expressed optimism that the new government would successfully implement reforms and complete the work on mega projects before time.
In a statement on Wednesday, Federation of Pakistan Chambers of Commerce and Industry President Irfan Iqbal Sheikh was positive that the new government would bring a noticeable change in the governance, administration and delivery on the back of its proven track record.
He welcomed and felicitated the formation of new government and its cabinet.
“The business community was profoundly concerned over the vacuum in the federal executive structure which has been addressed after major portfolios have been assigned across the federal ministries,” he said.
Sheikh added that while FPCCI acknowledged the initial gains in the rupee-dollar parity and stock market, there were many immediate and pressing issues pertaining to trade, industry and the economy that need government’s attention.
He proposed a non-political, inclusive, sustainable and legally-binding charter of economy to forge across-the-board contract and unflinching commitment towards economic growth, development and equality.
He said that the charter should encompass all sectors of the economy and all segments of the society.
“Let’s work together for a prosperous, egalitarian and industrialised Pakistan,” he added.
The FPCCI chief stated that credible international agencies forecasted Pakistan’s current account deficit in the fiscal year 2021-22 at $18.5 billion which was over 5% of GDP.
Published in The Express Tribune, April 21st, 2022.
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