KARACHI: Founder Chairman of United Business Group (UBG), former President of SAARC Chamber of Commerce, Iftikhar Ali Malik has expressed his concern that an atomic power country which had to become an economic power but unfortunately it could not happen, while on the other hand countries like Vietnam, Ethiopia, Bangladesh are also getting ahead of us. Due to the pressure of taxes on domestic industrialists, not only the existing industries suffered adversely but also the industrialization was discouraged.

He said that in the light of wider experience, he believes that Pakistan still has opportunities and the government should take steps to promote the agricultural sector. There will be, farmers will have to be provided with facilities and farmers will have to be prepared for farming in new ways.

Iftikhar Ali Malik said that due to nationalization and many similar measures, we have been left behind in the race of industrial development, the value of the dollar has increased tremendously, the industries which were started at 5 rupees per dollar but now they are 278 rupees. Who will set up the industry on the dollar and who will run it?

He said that there are many families in the country who have closed the industry and started other work. Today Pakistan is facing high inflation, poverty and unemployment.

Appreciating the statement given by the leaders of the United Business Group regarding their efforts during his tenure as SAARC and FPCCI President he said that the important role of all the business community of Pakistan in the efforts made to improve the country's economic condition is of utmost importance. Acknowledging UBG's proactive stance in advocating policies, removing trade barriers and promoting cooperation among various stakeholders to promote economic growth and facilitate international trade.

He said indeed, the dedication and commitment required to enhance the business environment and represent the interests of the business community, my efforts have always been that WTO, SAARC Chamber of Commerce, American Chamber of Commerce, Islamic Chamber of Commerce, to contribute to the progress towards common goals set by organizations like D8, ECO, Overseas Chamber of Commerce, and Pakistan Business Council and my efforts and endeavors have been appreciated on all the above global platforms.

Copyright Business Recorder, 2024