The Businessmen Panel (BMP) of FPCCI has demanded that the government should provide one window facility to investors across the country with the support of chambers of Commerce and industries so that foreign direct investment (FDI) may be attracted for export oriented industries which is much needed for the country at the present time.
Chairman BMP, Mian Anjum Nisar said here on Thursday since the security in the country has much improved we must follow international standards of facilitating investors; as Pakistan's geo-strategic location, availability of skilled manpower, and provision of raw material is a destination of choice for foreign investment.
He said investment policies may have been designed accordingly to suit investors' needs in view of strategic position and a market place teeming with possibilities. Similarly it is imperative that investment is also sought in export-oriented industries in order to increase the capability of the economy to generate the foreign exchange necessary to sustain and service the growing external debt.
Chairman BMP stated Pakistan needs major policy reforms to enhance its exports and competitiveness in global markets. A pro-export policy shift is required in all economic policies to cope with declining exports including due restructuring of the TDAP and appointment of professionals in the body.
"I believe it's a duty of the President FPCCI to pro-actively engage with the government in order to reduce cost of doing business, as expensive energy and high cost of business, coupled with the complicated tax regime were the major factors behind the decline in exports but unfortunately role of federation of chambers was bleak in last three years," the veteran business leader added.
Nisar further pointed out that though Pakistan has been progressing slowly towards achieving the targets set in Pakistan Vision 2025, but it is imperative to highlight that the Vision 2025 presents a comprehensive approach to addressing human and social development gaps with an emphasis on developing human and social capital to take full advantage of Pakistan's youth bulge. Therefore, our own experts should try to achieve the required economic growth to improve livelihood and create jobs for the growing population in the light of recent census.
Meanwhile with regard to Pakistan's dwindling exports chairman FPCCI Regional Committee on Industries and former president ICCI Atif Ikram Sheikh has warned that Pakistani products are fast losing ground in Afghanistan to goods produced in China, India, Iran and other countries despite similarities of language and culture of the majority involved in import and export business and the fact that Afghan traders happily accept rupee as valuable currency.
He recalled that Afghanistan had been Pakistan's second largest trade partner for long but now China and other countries including India, Iran, UK and Germany have replaced Islamabad owing to government's frequent shift in policies and frequent closure of Pak - Afghan trade border after every unpleasant incident which is benefiting competing countries.
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