Economic revival should be top priority of the government :FPCCI

Islamabad: Economic revival should be top priority of the government as it is linked to the betterment of the masses and image of the country among the comity of the nations, a business leader said Thursday. Business community of Pakistan will fully cooperate with the government while FPCCI which has remained dormant for long will be revitalised to play a proactive role so that it can contribute to the betterment of the business community and overall economy, said Mian Idrees, candidate for the office of the president of the FPCCI.

He said that the business friendly policies of PML-N led government and receding fuel prices can result in a new dawn of economic revival as it has helped cut deficit and allowed extra funding for developmental activities.

Talking to the business community, Mian Idrees said that Pakistan is emerging from economic turmoil after more than a decade and are experiencing new economic beginning which is a great opportunity for foreign investors. However, he added that despite unmatched business opportunities some investors are shy due to some issues that need a little effort. “Pakistan is an ideal market for investments, especially in the light of GSP plus status which has been granted for a decade, he said, adding that Pakistan offers best investment opportunities in the region while is has been introducing new concepts for investments.

Mian Idrees said that Pakistan offer best investment policies as almost 700 foreign companies operating in and making profits in Pakistan, a heaven for investors and a country of four seasons with population of youth standing at 60 percent. He lauded the decision of the government to divest government’s shares in State Owned Entities (SOEs) as their transformation will help government raise funds, reduce losses, cut budget deficit, improve exchange rate and boost the economy. He said that privatization is the integral part of the on-going process of economic reforms which must be carried out very carefully to hit the organisations compromising national growth while negligence would be a disaster, he warned.

History of sale of national assets in early 1990s shouldn’t be repeated and control of institutions should be handed over to the new owners after realisation of full amount.