‘All segments should be united for economic revival'
FAISALABAD: All patriotic segments including bureaucracy and the business community must change their mindset for the expeditious economic revival of Pakistan, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI).
Addressing the participants of 37th Senior Management Course of National Institute of Public Administration (NIPA) Peshawar, he introduced Faisalabad and FCCI in addition to explaining the overall economic situation in the country.
He also responded to the question and queries of the participants and said that textile is the iconic representation of Faisalabad but its industrial portfolio has been entirely changed during the last two decades with diversification.
'Now Faisalabad has a car assembly plant, in addition to the state-of-the-art pharmaceutical, food, confectionary, diaper and tile units which are not only catering to the domestic needs but are also exporting the surplus production,' he said and endorsed the 'Economic Transformation Plan' which has potential to enhance exports up to $100bn by formulating tangible policies in consultation with the genuine stakeholders.
He underlined the need for consistent policies to achieve the ultimate objective of sustainable economic growth. He appreciated the efforts of the Federal Finance Minister and SIFC for the revival of the economy. Coordinator Capt Khalid Mahmood (Retd) offered vote of thanks on behalf of the NIPA Peshawar while President FCCI Rehan Naseem Bharara and Chief Instructor NIPA Peshawar Tariq Bakhtiar, exchanged shields of their respective organizations.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
2 days ago
- Business Recorder
FCCI urges govt to protect environment
FAISALABAD: 'Environment Protection has emerged as one of the most critical issues after economy and defence and government in collaboration with the private sector must play pivotal role to save the environment on a sustained basis,' said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing a function on World Environment Day, he appreciated the vision of Chief Minister Punjab Maryam Nawaz and Senior Provincial Minister Marriyum Aurangzeb, and said that tangible results could be achieved to reduce and ultimately eliminate the excessive use of plastic in the province. The topic of the seminar was 'Zero Plastic, Zero Pollution'. He lauded the environment-related legislation and said that implementation on it is equally important to protect this only known living planet for coming generations. Copyright Business Recorder, 2025
Business Recorder
28-05-2025
- Business Recorder
‘Skilled workers can pave way for industrial revolution'
FAISALABAD: Focused approach is required to produce skilled manpower fully capable of meeting the current and future industrial challenges instead of producing a force of unfit and unemployed youth, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing a delegation of HEC and ICCI, he said that only skilled workers could pave the way for the industrial revolution and in this connection, we must make collaborative efforts with all concerned stakeholders including industrialists and scholars. He appreciated researchers and faculty members deputed in ORIC and said that industry-academia linkages are imperative to give a kick start to the industrial growth. He mentioned some leading industrial units which have made tremendous progress after adopting new and innovative technologies. He said that universities should also revisit their syllabus to synchronize it with the market driven needs. He appreciated the efforts of ICCI to arrange this tour of faculty members drawn from various universities and provide them an opportunity to directly interact with the leading industrial giants of Faisalabad. He appreciated the decision of HEC to declare internship compulsory for the young graduates but stressed the need for proper legislation at the Government level declaring internship as mandatory. He said that about 70% of the current syllabus is irrelevant for the industry and it should be revised in consultation with the stakeholders from the concerned industry. He said that once textile was the only iconic representation of Faisalabad but now it has diversified its industrial portfolio. 'It has state of the art diaper, Hyundai and tile units in addition to many more established with domestic and foreign investment,' he said and underlined the importance of developing indigenous technologies so that we could consolidate the economy after making our defence impregnable. Dr Habib Aslam Gaba Convener FCCI Standing Committee on Industry Academia Linkages termed leading businessmen as industrial PhD holders which they have gained through their life long struggle and practical experience. He said that the universities should also recognize their expertise in this field and plume them with honorary PhD degrees. Copyright Business Recorder, 2025
Business Recorder
26-05-2025
- Business Recorder
Consistent policies needed for economic stability: FCCI chief
FAISALABAD: Long term policies are prerequisite to achieve sustained economic stability and, in this connection, the business leaders across the country must adopt a unified stand, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing All Pakistan Chambers Presidents Conference 2025 organised by the RCCI, he said that Pakistan was making steady progress in the 1960s but later on decline started due to multiple reasons including inconsistent policies and international and domestic meltdown. He said that once again serious efforts were made for the revival of the economy which were sabotaged and failed to give the required results. He appreciated the economic vision of Prime Minister Shehbaz Sharif and said that he has not only saved Pakistan from bankruptcy but also put it back on the path of revival. 'However, positive, practical and long term policies are required to consolidate these achievements on a sustained basis,' he said and added that consultation with genuine stakeholders is a must in policy formulation. About the problems confronted by the business community, he expressed concern over the recently amended tax laws and demanded its immediate review. He said that exports are the lifeline of Pakistan and we must satisfy exporters by restoring the Final Tax Regime (FTR). He also stressed the need to bring down the policy rate to single digit in addition to providing electricity to the industrial sector at 9 cent per unit. 'It would help our exportable surplus to compete in the international markets,' he added. About the SME sector, he termed it as an economic growth engine but added that this financially starved sector was facing multiple issues. He said that the SME sector must be facilitated with concessional loans to unlock their immediate growth potential. 'Similarly, the limit of the SME sector should also be enhanced from 80 crore to Rs 2 billion, he said and demanded that the SME sector may also be allowed to import used machinery through concessional loans. President FCCI said that the tax net should be broadened in connection with the documentation of the economy. He acknowledged the importance of women entrepreneurs and said that the government should also take special measures to encourage them by providing them concessional loans. Later President FCCI Rehan Naseem Bharara signed two separate MoUs with Movenpick Hotel Centaurus Islamabad and Wah Nobel Group. Under the MoUs, these institutions would provide services to FCCI members at subsidized rates. Copyright Business Recorder, 2025
