LAHORE: Political stability is prerequisite for sustained economic growth to cope with the multiple challenges in Pakistan.

Talking to a delegation of traders from different markets of the city here Sunday as a part of on going election campaign Chairman Founder Group in Lahore Chamber of Commerce and Industry Iftikhar Ali Malik said that time had changed as now the influential nations were paying more attention to financial warfare to continue their dominance. The countries are successfully using their weapons of economic destruction to weaken economics of poor nations to achieve their unholy designs while Pakistan's economy is not strong enough to withstand economic terrorism.

He said "it is indeed important to increase our exports and for that purpose we need to reduce our cost of doing business so that our products can remain competitive in the world markets."

He further said "trade facilitation is the key to promote industries and we need to remove all the obstacles and create the culture of trade facilitation. Our Country has tremendous potential as we have enormous talent. What we need is the consistency in the government policies and a clear roadmap to move forward," he added.

The veteran trade leader was of the view that all the sectors including the industrial sector should discharge their national obligations and play their role in strengthening the economy while the government should introduce reforms and control the smuggling of raw material and finished goods.

He also urged the government to conduct market research to find out new destinations for the Pakistani products which were best in the world as far as quality and price was concerned. He said Pakistani Missions abroad should be duty bound to introduce Pakistani products to the foreign buyers and also ensure dissemination of trade related information so that Pakistan entrepreneurs could avail trade opportunities to the maximum.

Iftikhar Malik said Lahore Chamber always acts as a bridge between the government and the business community. It has always tried to ensure a business-friendly environment through sharing views with the government and by taking all the stakeholders onboard on all the economy related issues.

He said PIAF-Founder alliance in Lahore Chamber is still strong and continue its mission to protect the interests of the business community after sweeping annual election on Sept 25 and Sept 26 next while remaining committed to the cause of development of the country.-PR

Copyright Business Recorder, 2020