Secretary Global Compact Fasihul Karim Siddiqui has advised the business community to develop a comprehensive plan to cope with the increasing poverty and unemployment.
Addressing a seminar on 'Awareness Programme about UNO's New Guideline' jointly organised by Employees Federation of Pakistan, Global Compact Pakistan Local Network and Korangi Association of Trade and Industry (Kati), he said that the 10 principles of UN Global Compact in the areas of human rights, labour, environment and anti-corruption enjoy universal consensus and were derived from the Universal Declaration of Human Rights and the Rio Declaration on Environment and Development.
The UN Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labour standards, environment and anti-corruption, he added. President Indo Pak Chamber of Commerce and Industry and Former President FPCCI, S. M. Munir said that the industrialists were well aware of the UNO rules and regulations and they were duly complying with these in order to fulfil their global commitment regardless of the fact that Pakistan's financial system was facing very serious challenges and financial crises
He said that industry was struggling for its survival due to the manifold crises including that of electricity and gas shortages. He said that industrialists were mindful of international laws and they always fulfilled their obligations. He, however, underlined the need of more efforts to update and aware the local industry about the international laws so that they could be able to compete in the international market.
Chairman Kati Ehtishamuddin said that trade and industry was under immense pressure owing to the various problems and government's pathetic attitude toward the solution of these problems. He said that Kati was consistently urging the government to sit together with trade and industry representatives to work out plan for rescue of the dying economy and stop the ever-increasing unemployment in the country.