Govt, FPCCI sign MoU under Uraan Pakistan

Agreement aims to support export-led growth, $3tr economy vision

ISLAMABAD:

The federal government and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) have signed a memorandum of understanding (MoU) to cooperate in achieving economic targets under the Uraan Pakistan programme.

According to details, the MoU was signed at a ceremony held at the FPCCI President Secretariat by Federal Minister for Planning Ahsan Iqbal and FPCCI President Atif Ikram Sheikh. Under the MoU, the government and the business community will work jointly to translate into action the government's vision of turning Pakistan into a $3 trillion economy by 2047.

Under the Uraan Pakistan programme, cooperation between the government and industry will be strengthened to promote export-led growth. Mutual collaboration will also be enhanced for the implementation of the government's economic vision and the promotion of public-private partnerships.

During the event, FPCCI President Atif Ikram Sheikh also addressed a joint press conference, where detailed discussions were held on the Uraan Pakistan initiative and the country's economic situation. He reaffirmed full cooperation with the government to transform Pakistan into a modern economic power and described the success of the Uraan Pakistan plan as essential. He said that high interest rates, excessive electricity tariffs and a business-friendly environment were critical for economic growth and the revival of industry.

He proposed district-level initiatives to promote local economic development and called for ensuring targeted exports of various products. The FPCCI president said that the federation, as the representative body of Pakistan's business community, should be fully taken on board in policymaking.

Speaking to the media on the occasion, Ahsan Iqbal said that the Uraan Pakistan programme reflected a commitment to sustainable development, increased exports and economic revival. He said that, with the support of the business community, the government had steered the country away from the risk of default, adding that sustainable economic growth depended on the revival of industries.