Ahsan Zafar Bakhtawari, President of Islamabad Chamber of Commerce and Industry (ICCI), has said that if the government wants to revive exports of the country it needs to help the businesses community so that it can invest in export-oriented industry.

He said that exports came down to USD11.93 billion in the first five months (July-November) of the current fiscal year 2022-23, as compared to USD12.36 billion in the same five months of the last fiscal year 2021-22.

He said that Pakistan’s economy is in a freefall with dwindling reserves and the threat of default looming ever larger.

He continued, “if the government does not get serious about helping the business community, exports will continue to fall with the attendant consequences in the broader economy. It is high time that the government gets serious about meeting its export targets.”

He said this while addressing a dinner reception hosted by Sheikh Muhammad Nasir Ali, Chairman of Pak-China Business Forum (PCBF) in collaboration with Traders Welfare Association, I-8 Markaz Islamabad, in honour of the ICCI Office Bearers.

Bakhtawari stressed the need to exploit the Chinese market. He said that annual imports of China stood at more than USD2 trillion while Pakistan was exporting less than USD3 billion worth of goods to it. This, he said, shows that we are not serious about fully exploiting our trade potential with our partner countries.

He implored the government to help business community through conciliatory policies so that businesses can grow, create jobs and help revive the economy.

He assured PCBF that ICCI will closely work with it to enhance bilateral trade between Pakistan and China, which will be beneficial for both countries.

Chairman of PCBF Sheikh Muhammad Nasir Ali said that PCBF is working around the clock to strengthen business linkages between Chinese and Pakistani companies to enhance trade, joint ventures (JVs) and investments between the two countries.

He added that PCBF is currently working to bring more Chinese companies into Pakistan for JVs, and investments in special economic zones of Pakistan being set up under CPEC.

Ex-Senator Abdul Qayyum Khan called on the government to make economic policies in consultation with chambers of commerce and business communities that would produce fruitful results for the economy.

Vice President of ICCI Azhar ul Islam Zafar; Co-Chairman of Pak-China Business Forum Sheikh Ejaz; Khalid Iqbal Malik Group Leader, Khalid Javed, Zafar Bakhtawari, Sardar Yasir Ilyas Khan, Muhammad Shakeel Munir, Ajmal Baloch, ICCI Executive Members and a large number of business community also attended the dinner reception.

Credit : Independent News Pakistan-WealthPk