Federation of Chambers of Commerce & Industry's (FPCCI) president Abdul Rauf Alam said here on Sunday that offices of the federation will be set up in Islamabad to maintain its liaison with diplomats and to facilitate the foreign trade delegations which avoid visiting Karachi due to security reasons.
The FPCCI is also considering a proposal to increase its term of office from one year to two years as it was not possible to complete its mega projects and bring reforms in just one year, he added.
Speaking to the business community of Multan, he said that term of other associations and chambers would also be increased to two years, while the `ghost' and illegal associations would be discouraged in getting the FPCCI's representation.
Referring to Pakistan's traditional trading relations with Iran, he said that a joint business council was set up in 2001 under the aegis of national chambers of both the countries for promoting trade and commerce between the two countries.
He said that opening of trade links with Iran will also favour the China-Pakistan Economic Corridor (CPEC). "The common geographical borders as well as religious affinities are among other factors, which will enhance the level of trade in the coming days," he said, underscoring the need for expediting mega projects, including the Iran-Pakistan Gas Pipeline and import of 1,000MW electricity from Iran.
He said that the Free Trade Agreement (FTA) among ECO member-countries was also in progress to boost trade in various sectors, including services, investment, banking, finance and industrial and agricultural.
Reiterating that the apex chamber will fully cooperate with the government at every level without compromising the interests of business community, he said that government has achieved economic stability and now time has come to push for privatisation and reforming public sector enterprises, while preferring growth over stability to improve exports, revenue and jobs.
He said that FPCCI during last one year has extended its cooperation to the government and now is the time that the authorities should take the business community into confidence before taking economic decisions.
He said that although the country's growth rate, foreign reserves and current account deficit situation has improved and large scale manufacturing has picked up, the issues concerning refunds, broadening of tax base and reforms are yet to be addressed.
The FPCCI chief was of the view that the country can help resolve its issues such as dependence on domestic and foreign loans merely by bridging gap in taxes. Lauding the energy policy of the government, he said that incumbent administration was trying hard to ensure dependable supply of electricity.
He hoped that that the government will also consider overhauling bureaucracy associated with the power sector and hold the negligent officials accountable for punishing masses and the business community.
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