ISLAMABAD: Minister for Commerce Jam Kamal Khan on Saturday said the government was working on increasing ease of doing business to make the country an attractive destination for foreign investment.

In this regard, projects like Pakistan Single Window have been undertaken to provide one-node solutions to potential investors seeking permits from different departments, said a press release.

The government remains fully committed to supporting businesses and fostering an environment that enables them to thrive.

The minister was addressing the 40-year anniversary celebration of Islamabad Chamber of Commerce and Industry (ICCI) as chief guest.

Says prudent and effective govt policies brought down inflation and increased foreign reserves

He said prudent and effective policies of the government had brought down inflation. Stable and increased foreign reserves have also brought down interest rates. Moreover the government has been working relentlessly on bringing down power tariffs for the industry in general and exporters in particular.

He added that Prime Minister Shehbaz Sharif himself was paying utmost attention to the resolution of the business community’s problems and that a high-profile board was already working headed by the prime minister.

He said that an all-out effort was being made by every ministry to see regional trade flourish and explore business opportunities for exporters. The trans-shipment policy is being revised to spur cross-border trade in the region and foster business opportunities for the business community.

Once devised, the trans-shipment policy is expected to make Pakistan a regional business hub for the Central Asia, South Asia and Middle East regions. This will create employment for the skilled labour force, bring in foreign exchange, boost revenues for the government and bring in overall development in the country.

The role of chambers in promoting trade and commerce, both domestic and international, cannot be overstated. Over the past four decades, the Islamabad chamber has played a pivotal role in spurring business activity, promoting entrepreneurship, and contributing significantly to national economic progress, he stated.

In his welcome address, Ahsan Zafar Bakhtawari, President ICCI, highlighted the major milestones of the chamber during his tenure. He said that he and his entire team tirelessly worked to resolve the problems being faced by the community and provide them a congenial atmosphere for ease of doing business.

He said that we have to increase our exports, impart skill training to our youth and formulate long-term economic policies for the wellbeing of the country.

Chairman Founder Group ICCI Khalid Iqbal Malik paid tribute to Ahsan Zafar Bakhtawari for his outstanding performance as the president.

Former ICCI president and Secretary General United Business Group Zafar Bakhtawari underlined the need for the acknowledgement of business leaders’ achievements through excellence awards at government level. He called upon the youth to idealise business leaders to emerge as job providers instead of job seekers.

Former president FPCCI and ICCI Zubair Ahmad Malik by mentioning the problems of the business fraternity impressed upon the government for provision of necessary facilities to the business community. He also demanded the start of immediate work on the Pakistan-Iran gas pipeline project, CASA-1000 and TAPI etc.

President-elect ICCI

Nasir Mansoor Qureshi said Pakistan is blessed with multiple opportunities and resources and the only needed thing is to showcase them articulately to overcome the economic challenges.

Senior Vice President Faad Waheed emphasised the need for the continuity of the economic policies.

Vice President Eng. Azharul Islam Zafar also spoke on the occasion.

Former presidents of the chambers were given awards by the chief guest for their achievements and dedication to the business community.

Published in Dawn, September 29th, 2024