The Businessmen Action Forum (BAF) in its 3rd meeting at Sialkot Chamber of Commerce and Industry (SCCI) on Tuesday here decided that business tycoons would continue their efforts for bringing economic stability despite hurdles. The basic concept of Businessmen Action Forum was to develop strong interaction, leadership and partnership for sustainable business development, it said.
The BAF would formulate future line action for promotion business and take necessary measures to safeguard interests of the business community. The BAF is an excellent medium for promoting business leadership and sustainable business development and it can respond to the emerging challenges of economic growth.
Some burning issues like electricity and gas load shedding, impact of monetary and exchange rate policies, plus supply side constrains, rising costs salary bills and raw materials, increasing competition in export markets, long-term structural issues such as labour skills deficiency and poor infrastructure and law and order problems and political instability were discussed in the BAF meeting.
Meanwhile, talking to Business Recorder, the President of Sialkot Chamber of Commerce and Industry (SCCI), Hassan Ali Bhatti, said that the BAF would formulate a well planned, thoroughly deliberate and purposeful line of action to facilitate smooth business activities.
He said close co-operation and continued co-ordination would greatly help in sustainable solutions to local and international challenges to business. He said that stable law and order was the basic requirement for smooth business activities and steady economic growth, and due to poor law and order business had suffered a lot and economy had been seriously damaged.
Besides, the wave of terrorism had shaken the entire country and the situation demands that the entire nation must unite against the enemy that is trying to destabilise the country, he added. He said: "We are becoming uncompetitive, and there is great fear about drop in export orders from overseas buyers and long-term impact it may have."
He said: "Foreign buyers may find substitutes from our competitors in the region as the attitude of overseas buyers is driven by the prevalent uncertainty and their concern about our country. The situation demands all possible remedial measures by the government to create enabling environment for the business to sustain and flourish."