ICCI lays stress on reforms for increasing exports

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has urged the government to formalise and implement much-needed structural reforms in order to put the country on the path of sustainable economic growth.

ICCI President Sheikh Amir Waheed said exports were declining which was harming balance of payments position of the country. He was talking to former senator Syed Zafar Ali Shah along with other business and political personalities during a visit to the ICCI.

He urged the government to address all major issues of exporters including stuck tax refunds on a priority basis to turn around the dwindling exports. He emphasised that senators and MNAs should play their role in making business-friendly policies which were necessary for reviving the economy.

Waheed pointed to the growing clout of regional competitors who, he said, were grabbing Pakistan’s share in the international export market.

Shah said the business community was making a vital contribution to economic development of the country and assured them that he would play his due role in highlighting the key issues at all relevant forums for urgent attention of the government.

Former FPCCI president Abdul Rauf called on the government to focus on creating an enabling environment for business activities in consultation with business leaders, which would pave the way for achieving long-term economic growth.

ICCI Senior Vice President Muhammad Naveed and Vice President Nisar Ahmed Mirza said most of the challenges faced by local traders and industrialists were related to the Capital Development Authority and Federal Board of Revenue.

He urged both organisations to focus on resolving key issues of the business community in consultation with the ICCI in order to facilitate growth of commercial activities.