Business enabling environment: Punjab government seeks private sector's support

Punjab government has sought guidance and support of the top heavy weights of the private sector for improving the business enabling environment in the province. The Public-Private Dialogue (PPD) Council organised by the Investment Climate Reform Unit (ICRU), held its third session here on Wednesday to explore how the provincial government and the private sector along with other relevant stakeholders can effectively put to use the PPD platform and identify the most efficient ways to find commonalities for an environment that is conducive for investment.
Prominent participants from the private sector who were also inducted as PPD council members included, Syed Yawar Ali, Chairman Nestle Pakistan; Dr Salman Shah, eminent economist; Farid Ahmed Khan, CEO HBL Assets Management Ltd; Atif Bajwa, Ex-president MCB Bank and Bank Alfalah; Abrar Hassan, CEO National Foods; Abdul Basit, Chairman Big Bird Group; Seema Aziz, Managing Director SEFAM; Sikander Khan, Chairman Millat Tractors; Saquib Hussain Shirazi, CEO Honda Atlas; Humayun Mazhar, CEO Cres Ventures; Asif Peer, CEO & MD Systems LTD; and Bruno Olierhoek, President OICCI and CEO Nestle Pakistan.
Chairman Planning and Development Board Punjab Mohammad Jehanzeb Khan presided over the session for promoting private sector led economic development. Farid Ahmed Khan was of the opinion that, "Responsible policy making requires that the government should listen to its constituents for formulating enabling business policies."
Similarly, Bruno Olierhoek, MD & CEO Nestle Pakistan said, "I hail from the Netherlands where a Council similar to the Punjab Public-Private Dialogue Council has made major contributions in helping improve business environment." Appreciating the participation of eminent businessmen at the session, Maleeha Bangash said, "The purpose of this Council is to remove the hurdles between various public and private stakeholders that had been identified previously as a fundamental impediment to competitiveness in the private sector."
Participants from the private sector hoped the process will lead to better regulations to protect investors and their businesses. They also termed the Council meeting "need of the hour" and "a step in the right direction" towards a stable and transparent regulatory environment that will create an enabling business environment.
They also stressed that policy reform initiatives pertaining to harmonization of taxation, protection of Intellectual Property Rights, addressing issues of SME's and an effective implementation of follow through framework and should be realized in the government. At the end of session, private sector reposed their confidence in the PPD mechanism and gave their commitment that they would participate and provide solutions based global best practices and partner with the Punjab government in bringing right policies and reforms for economic growth.
It may be mentioned that Public Private Dialogue (PPD) is recognized as a key feature in improvement of business climate and reformation of governance structures. PPD facilitates investment climate reforms by supporting champions for reform, creating momentum, and accelerating the reform process.