Balochistan Summit aims to boost investment

KARACHI:

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Balochistan Board of Investment and Trade (BBoIT) will jointly organise the Balochistan Summit 2025 on January 27-28 in Islamabad, aimed at promoting business, investment, joint ventures and industrialisation on an international scale in the province, FPCCI President Atif Ikram Sheikh announced on Wednesday.

The civilian and military leadership of the country are expected to attend the summit to project and position the province as the foremost investment destination of the country.

"Balochistan needs special attention," he said, adding that the government should promote industrialisation by providing tax and duty waivers, offering incentives and operationalising the Special Economic Zones (SEZs).

Additionally, it is essential to establish the Bank of Balochistan similar to other provinces. Furthermore, maintaining law and order is crucial for economic activities to thrive and attract investors.

BBoIT Vice Chairman Bilal Khan Kakar explained that the motive behind taking the FPCCI onboard was to have the backing of the entire business, industrial and trade community, and ensure their participation in the Balochistan Summit 2025 as the FPCCI represented all 284 chambers, trade bodies and industry associations across different sectors of the national economy.

FPCCI VP from Balochistan Nasir Khan said the situation was grave and employment opportunities were shrinking fast for the youth. He added that small and medium-sized enterprises (SMEs) were the most-affected business entities, though "SMEs are the real engine of growth for a developing country like Pakistan and generate the most employment".

He said that other than a provincial government bank, the second most critical institution of economic significance missing in Balochistan was an insurance company. Without an insurance firm, traders, industrialists, service providers, transporters and investors, all feel insecure to do business in Balochistan.

He proposed a public-private partnership (PPP) model for setting up institutions and organisations to create a thriving business environment.