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
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