FPCCI Proposes New Charter to Save Pakistan’s Economy

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed a non-political, inclusive, sustainable and legally-binding Charter of Economy to forge an across-the-board contract and commitment towards economic growth, development, and equality.

In a media release, Acting President FPCCI, Khawaja Shahzeb Akram, also said that the charter should encompass all sectors of the economy and all segments of society.

He said that the draft of the Charter of Economy has been prepared by FPCCI with a high degree of diligence after studying best practices from across the globe and thorough input from the business community from all sectors of the economy.

He added that the charter aims to protect the economy from any political or policymaking unpredictability and ensure the provision of a business and economic environment where all stakeholders feel confident to plan their businesses for the long term.

Akram added that all political parties should support FPCCI’s proposal to have a Charter of Economy in the supreme national interest and to save the economy from existential challenges. He added that all institutions of the state should also come together to support the efforts for the rejuvenation of the national economy.

Meanwhile, All Pakistan Textile Mills Association Southern Zone Chairman, Asif Inam, has requested Prime Minister Imran Khan to intervene to save the export-oriented textile industry of Sindh and Balochistan from total closure as they have come to an almost standstill due to supply restrictions on gas.

In a statement, Inam said that the textile industries of Sindh and Balochistan are contributing more than 52 percent in total textile exports of Pakistan, but are deprived of gas supply. He said that industries of Sindh and Balochistan are denied their legal right on gas supply despite being self-sufficient in the supply of natural gas.

He urged the government and gas supply companies to provide gas to export-oriented industries including textile to run their mills without any disruption on a priority basis so that they can fulfill their export commitments on time.