'Businessmen must follow best practices'

President Dr Arif Alvi on Thursday urged the traders and businessmen in the country to strictly adhere to the principles of honesty and fairness to capture a space in the competitive global economy.

Addressing the achievement recognition ceremony of the Islamabad Chamber of Small Traders and Small Industries (ICSTSI), at the Aiwan-e-Sadr, the president said it was difficult to have a successful business if the customers did not trust a brand or considered it dishonest.

President Alvi said in a competitive economy, businesses that fail to create an ethical reputation soon become extinct. “Sell your products with fairness by maintaining the same standards which you show to your target audience while marketing,” he urged traders.

Besides adopting a profit-based approach, he said, it was equally important for companies to ensure an environment of empathy and compassion in society. “Honesty in public dealing and developing trust between supplier and consumers can lead to an accommodating atmosphere in the society,” he suggested.

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The president emphasised on inculcating the values of honesty in the society in line with the glorious teachings of Islam which called for maintaining integrity in public dealings. He also noted that it was the responsibility of the society to provide a harassment-free environment to women at workplaces to ensure their inclusion in all fields of life.

Dr Alvi said the promotion of small industries in the country could stimulate economic growth. He highlighted the need for skill development through vocational courses to help the population earn the dividends of a skill-based economy.

“There is no dearth of talent and skills in the country however, the situation needs provision of better opportunities to people.”

Published in The Express Tribune, December 1^st, 2023.

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