Gone the days when trade bodies have been playing their role as collective bargaining agent of business community by means of their demands for provision of subsidies and tax exemptions. In 'New Economic Order' they play a proactive role of leadership in overall socio-economic development. They work as catalyst for capacity building, and efficient resource allocations. The role of FPCCI cannot be isolated from the present economic conditions of the country. FPCCI has established itself on the pattern of international organisations like FICCI, TOBB etc. Many of the international organisations are now visiting FPCCI for study their model of trade and industrial development. Being the bridge between private sector and government we contribute strongly in the policy formulation.
During my tenure, FPCCI conducted various activities with the view to provide policy advocacy to the government on the issues related to fiscal policy particularly broadening of tax base and curtailing of government expenditures, monetary policy, trade policy, industrial policy, investment policy etc. The survival of the economy of Pakistan is now attached with the active role of FPCCI in economic policy formulations. The Government of Pakistan has declared year 2015 as the year of economic revival and gave task to FPCCI to prepare a plan for the fast track of economic growth. For the collaboration with the planning Commission, FPCCI has signed an agreement with between Planning Commission as a partner in the Revival of Economy plan. Moreover, on my recommendation Prime Minister of Pakistan Mian Muhammad Nawaz Sharif has formed two committees such as Broadening of Tax base Committee and Ease of Doing Business Committee. The Committee "Broadening of Tax Base" is chaired by President FPCCI and Chairman FBR is the member of the Committee. Presently, this committee is formulating proposals for the broadening of tax base. Moreover, for the Ease of Doing Business Committee FPCCI also prepared research report on Ease of Doing business and legal infrastructure in Pakistan. This report identified the hurdles which currently affect our business environment and increasing the cost of doing business.
The current government has taken many initiatives for the revival of economy but during the recent year, Pakistan also missed all it targets of growth, but on the other hands there are some positive development like declining of interest rate to single digit, rising of foreign reserves, decline of import bill, reduction of inflation are also appreciable. In order to reduce poverty and unemployment, there is a need to increase economic growth rate of Pakistan. In his context, FPCCI has prepared Revival of the Economy plan and presented it to leading Economist, Policy makers, Politicians, Think tanks, diplomat, leading businessmen etc. In their economic plan, FPCCI recommended seven percent economic growth rate.
Historically, the rate of growth of Pakistan's economy was higher than the countries in the region. It was almost twice of the rate of growth in Indian economy. Pakistan has been considered as the fast growing economy. In the journey of revival we cannot ignore the survival of economy. So, our strategy is divided into two parts: first belong to the survival and second part covers the revival mechanism. In our strategy fiscal policy and budgetary targets are applied for the survival of economy, while medium and long term planning should be adopted for the revival of historical growth. In the present state of affairs in Pakistan, development planning cannot be much depended on fiscal policy. Moreover, no fiscal space is available for development planning by the public sector. Foreign assistance and external debt are also not a feasible or recommendable option. We suggest that FDI (Particularly investment by ex-patriots) is the most feasible option for development planning. Financial Liberalisation is required to attract FDIs. It is a soft option for resource mobilisation to develop deteriorated infrastructure.
A part from revival of the economy plan, FPCCI has established NTM desk with the support of GIZ and SAARC TPN. This desk is currently worked to identifying the non-tariff measures which are currently affects our trade with regional and other countries. GIZ team visited FPCCI to review the NTM Desk Performance and said that National Chambers of other countries, FICCI, FBCCI, FNCCI, etc must come to NTM Desk of FPCCI as study tour and follow the practices of FPCCI NTM Desk.
I have also strongly focused on promoting SMEs culture in Pakistan. In this context, I have established SMEs/SSGATE desk. This desk is looking after SMEs-related issues, and recommends different policy measures to the Government for enhancement of the role and of share of SMEs in the economy. Moreover, FPCCI is serving as the participating agency/ work station of the SSGATE (South-South Program) launched by the UNDP to develop SMEs. This desk has also launched SSGATE programme. Currently, this desk is established working in Karachi and later will established in other cities like Lahore, Islamabad, Sialkot, Faisalabad, Quetta, Multan, Peshawar etc.
During the current tenure, I have also revived Economic Co-operation Organisation Chamber of Commerce and Industry (ECO-CCI). ECO-CCI Presidency and Secretariat was shifted in Pakistan in September 2014 for three years. The permanent secretariat of ECO-CCI will be decided after reviewing three years performance of ECO-CCI Secretariat work in Iran, Turkey and Pakistan.
For the strong policy advocacy, FPCCI has set up a media centre with a vision to assist journalist community particularly those interested in economic investigative reporting. The purpose of opening of the media centre was to provide full assistance to the journalist particularly those interested in investigative reporting on economic issues.
For the promotion of Pakistan's export to EU countries FPCCI has also created GSP plus desk. This desk will promote trade and creating strong linkage with other countries to enhance bilateral trade and economic co-operation. The World Bank, IMF, US Consulate, USAID and diplomats of other countries regularly visited FPCCI. This year after a decade FPCCI has actively participated in discussion on core economic issues including TIR, MFN, ECO, ATT and PAAT and Custom Union.
As a President FPCCI, I always try to promote soft image of Pakistan all over the world. I always highlighted that Pakistan is a safest country for investment where there is high profitability and low cost investment. In our planning, we have planned many delegation to other countries for highlighting our investment projects and we are also invited many countries to visit Pakistan and get first-hand information regarding investment projects.
FPCCI is closely working with its member bodies and providing them all possible assistance, co-operation and guidance in resolving their trade related issues with the government and other concerned agencies.
Achievements of FPCCI this year
-- FPCCI's plan for revival of economy of Pakistan presented to the Prime Minister of Pakistan
-- FPCCI's various suggestions for budget 2015-16 were widely appreciated
-- Several meetings held by Office bearers of FPCCI with Federal and Provincial Ministers, Foreign Diplomats and representatives of trade bodies to get them on board for economic revival of Pakistan
-- FPCCI established a GSP Plus Desk at Head Office to facilitate the exporters to EU countries
-- NTM Desk established in FPCCI Head Office
-- To promote SME culture FPCCI opened a separate SMEs/SSGATE Desk
-- To promote bilateral trade, FPCCI activated its Business Councils with foreign countries / counterparts
-- FPCCI enhanced trade and economic relations with regional blocks through active participation in SAARC CCI, ECO CCI, ICCIA, CACCI, D-8 FCCI
-- The departments of FPCCI revamped by hiring professionals and implementation of ERP system to improve efficiency on administrative, HR and managerial work
-- FPCCI Offices at Lahore and Islamabad linked through video conferencing
-- New website of FPCCI launched with the facilitation of e-Services
-- Build the image of FPCCI through dissemination of FPCCI's activities on print, electronic and social media
-- A new Press & Media Cell established at FPCCI
-- Compliance of SECP Annual requirements
-- Introduced transparent accounting system in FPCCI. Reconciled each and every trade fair and exhibition accounts
-- To promote Pakistani products in International Market through participation in various exhibitions. Companies strictly selected on merit basis and stalls allocated transparently through open ballot
-- FPCCI promoted corruption free regime. Arranged Seminars, Conferences, Peace Walks against corruption
-- FPCCI Auditorium refurbished with the state of art facilities
-- ISO 9001:2008 Certification to FPCCI by SGS Pakistan
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