The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday lauded the government for stabilising a close-to-bankruptcy economy within three years contrary to expectations of foreign experts.
The business community fully supports the economic vision of Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar who are capable enough to make Pakistan a developed nation, said FPCCI President Abdul Rauf Alam.
Speaking to the business community he said that FPCCI will fully cooperate with the government to realise the economic targets in which expanding tax net is of paramount importance.
He said that sustainable development require reduced unemployment and better facilities of health, education and transportation etc for which growth rate should be at least 7 per cent.
Investment should be jacked up by 25 per cent for better GDP growth for which tax base and savings should be improved, he said, adding that rate of return on savings must be improved.
Abdul Rauf Alam said that the only way to provide relief to majority of the world’s population living in the SAARC region is through increased trade and reduced friction.
Three billion Asians could enjoy living standards similar to those in Europe today for which policies must be revisited, while SAARC can account for over half of global output by the middle of this century but we are not prepared for it.
Curtailing the movement of businessmen has been identified as one of the biggest hurdles in the progress of the region which is home to 22 per cent of the world’s population with 45 per cent of the young people. The region, however, is still vastly underdeveloped, he said.
