PESHAWAR: The business community of Pakistan has called on the federal government to take necessary measures to tap minerals and other natural resources to bring economic stability and prosperity.
At a meeting with participants of the 36th Mid-Career Management Course at the National Institute of Management Islamabad, Mohammad Ishaq, President of the Sarhad Chamber of Commerce and Industry (SCCI), stressed the need to revamp business and trade institutions and formulate policies after consultation with the business community.
The meeting was attended by SCCI Vice-President Ejaz Khan Afridi, former chamber presidents, members of the SCCI executive committee, traders, industrialists, and exporters.
Ishaq blamed political instability for the economic turmoil in the country and emphasized the need for pragmatic steps to broaden the tax base and reduce the tax ratio.
He also highlighted that sustainable policies were essential to overcome the present economic crisis.
Ishaq briefed senior officers regarding various SCCI projects aimed at improving industry-academia linkages, skill training sessions, and ensuring the welfare of the business community.
He also appreciated law-enforcement agencies for improving the security situation in KP and stressed the importance of peace and stability in promoting commercial and economic activities.
Furthermore, he demanded proactive steps from the government to transfer technology and highlighted the investment-driven sectors and potentials of the province, especially mines, minerals, marble, tourism, and IT.
He expressed concern over the recent hike in power tariffs and demanded a smooth electric supply to industries to boost their activities in the province.
The SCCI president questioned how the economy could be put on the right track when government institutions did not consult the business community.
He complained that the SCCI’s proposals were not included in the federal budget and that the business community faced enormous difficulties due to the enforcement of unilateral policies.
