Business community expressed hope that Muhammad Nawaz Sharif, President of PML-N, will concentrate his attention over economic situation and law and order issues after expected resuming responsibility of PM of the country in next few days. Congratulating him and his party over wining the majority seat to form government in centre, they further expressed that Nawaz Sharif was successful businessman who was likely to assume PM office third time and had sufficient experience to bailout the country from prevailing severe economic and law and order crisis.
They said the country was passing through serious crises and manufacturing sector was moving nose down, foreign buyers were reluctant to visit Pakistan, local and foreign investors were shy to invest in the country, while power and gas crisis hitting adversely the capability of manufacturing sector.
In last few years investment in new industrial projects and expansion in existing industry has come to a standstill. Massive flight of capital has taken place to other countries in the region where investment and business environment is favourable and future prospects are brighter. Competing nations such as Bangladesh, Sri Lanka, India, Malaysia and United Arab Emirates have devised policies which attract investment and create a business friendly environment.
Beside investment, industry and trade in the private sector has suffered set-backs because the cost of doing business has sky-rocketed. Industrial inputs including raw materials, gas, electricity, manpower and high cost of working capital have made it difficult for many industries to survive and run profitably. They pinned high hopes on the next elected government to resolve all the outstanding issues of the economic, as PML-N Chief Nawaz Sharif had the capably to steer the country out of the current economic crises and resolve the energy problem.
They expected that PNL-N government would take solid steps for resolving the long-pending issues of power crisis to extend relief to a common man. Chairman Export Sub Committee of FBAATI, Agha Shahab expressed hoped that Nawaz Sharif would utilise his experience and abilities to bring the country out of mire and give up policy of borrowing from World Bank and IMF.
He hoped that new government would adopt policy of austerity and made measured to grab Pakistan share in regional trade as well as reduce cost of doing business. He pointed out that FBR had data of 3.9 million people who contributed nothing into tax net and added that they should be brought in tax net. Inclusion of these non-taxpayers in tax net would generate around 20,000 million rupees additional revenue, he said. Former chairman FBAATI, Shahid Ismal said that new government should make efforts reduce sale tax gradually and bring it down to five percent.
He emphasised the need of early sale of 3G license. India and Bangladesh were earning huge sum through sale of 3G license, he pointed out. Meanwhile, Karachi Chamber of Commerce and Industry (KCCI) in a press release presented best compliments to PML-N President Nawaz Sharif for victory in the General Elections 2013 and for winning the majority of seats.
The Business and Industrial Community of Karachi has great expectations from the newly elected government under Prime Minister-ship of Nawaz Sharif and hopes that he as seasoned politician, who had also served previously as the PM of Pakistan, will come upto the expectations to boost the economy of the country. KCCI, likewise, also felicitates the leadership of Pakistan Peoples' Party for winning elections with majority of seats in Sindh to form government. KCCI congratulated the Chief Minister of Sindh Syed Qaim Ali Shah and expected that he would leave no stones unturned to resolve the problems confronting to the economy of Sindh in general and Karachi in particular. KCCI is surprised that the PPP government in Sindh had taken all the Cabinet Ministers from rural areas and strongly believed in deserved representation from Karachi and other urban areas in the provincial cabinet. KCCI firmly articulates meaningful representation of Karachi city in the federal and provincial cabinets which is imperative to highlight strengths of the mega city and genuinely address the problems confronted to the Karachiites and the business and industrial community.
KCCI also demands that representation from Karachi should not be ignored in the formation of the forthcoming federal cabinet, allocation of federal ministries and nominations for key posts stating that Karachi was the largest Metropolitan city, financial, commercial and industrial hub of Pakistan, port city handling 98 percent cargo of the country, holding share of 20 to 30 percent in the GDP, having prudent 20 million population and pragmatic business and industrial community which generates around 68 percent revenue for the national exchequer.
KCCI reiterates that the city must be accorded deserved importance to uplift its economy which is injured due to precarious law and order situation, energy crises and other problems in the past. Karachi is the backbone of the economy therefore the elected representation from Karachi is imperative.
Maqsood Ismail, President, Lasbela Chamber of Commerce and Industry (LCCI) has extended heartiest congratulations to Muhammad Nawaz Sharif and PML-N for winning the confidence of the people of Pakistan and to form the new government under his competent and dynamic leadership and with his experienced team.
While appreciating the previous tenure of PML-N in Punjab for their efforts to bring peace and prosperity, he was confident that the same spirit would be shown by Nawaz Sharif and his colleagues for the revival of economy and to bring the nation out of energy crises, lawlessness, corruption etc which had pushed the country backwards.
While assuring the Lasbela Chamber's full co-operation to in-coming government of Nawaz Sharif, Maqsood Ismail urged to induct the elected representatives of Lasbela District in national and Balochistan's provincial assemblies, in the federal and provincial cabinets, keeping in view their past performance and sincerity towards the development of the province, particularly with reference to industrialisation in Lasbela District and with the confidence that they would further play their positive role for the development and economic growth of this area if they were given the chance to do so. He reminded that they had already joined the PML-N in the greater interest of their people.
Maqsood Ismail also appreciated the efforts of Nawaz Sharif to set up a stable government in Balochistan to enhance the confidence of the people ensuring rapid economic growth in the province leading to the provision of proper infra-structure and controlled law and order situation resulting in the industrialisation in the province and creation of employment opportunities for its people.
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