KARACHI: The business community has high hopes from Prime Minister Imran Khan and is confident that he will bail the country out of the economic crisis besides paying special attention to the plight of people and industries of Karachi.

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice-President Syed Mazhar Ali Nasir said that the new premier’s resolve to ensure strict accountability across the board is highly appreciated by the business community in particular and the masses in general.

Siraj Kassam Teli, Chairman Businessmen Group (BMG), and Karachi Chamber of Commerce and Industry (KCCI) President Muffasar Atta Malik hoped that Imran Khan will focus on addressing key economic issues on an urgent basis and pay special attention to problems of business and industrial community of Karachi, which is the economic nerve centre of the country.

They shared their optimism that the incumbent premier will fulfil his commitments made to the business community of KCCI during a meeting held on July 22 and particularly his pledge to improve the city’s infrastructure. They highlighted that Karachi contributes more than 65 per cent revenue to the national exchequer.

They urged the prime minister to include reliable and honest businessmen having adequate know-how of prevalent crisis in his economic team.

They said that only a dedicated team can prudently guide the government in formulating policies which have direct and indirect impact on trade and industry. This step would certainly be a win-win situation and will be warmly welcomed by entire business community of Pakistan, they added.

Chairman Association of Builders and Developers of Pakistan (ABAD) Arif Yousuf Jeewa said Imran Khan is a man of his word and will deliver on his promises for the betterment of country.

Despite a lot of challenges, the PTI government will deliver what they have promised, he said adding that the people will have to be patient and there will be a visible change within one year.

H said that PTI’s plan to build five million affordable low-cost housing units is achievable; however, even if the target is half met, it would have a significant impact on the national economy besides creating thousands of jobs and boosting over 70 allied industries.

He hoped the PTI government will change Pakistan’s destiny by bolstering economic activities. He was of the view that the new government would continue with the Fixed Tax Regime (FTR) for builders and developers.

He also supported restructuring of the Federal Board of Revenue (FBR) as highlighted by Imran Khan in his first-ever speech after victory in the elections. Arif Jeewa said reduction in tax rates is needed to expand the tax net and increase tax collection.

Korangi Association of Trade and Industry Patron-in-Chief S.M. Muneer and President Tariq Malik hoped that the newly elected prime minister will make proactive economic policies to put the country on the path of rapid growth and development.

Published in Dawn, August 19th, 2018