Chairman Senate asks private sector to take lead in promoting the economy


ISLAMABAD: Muhammad Sadiq Sanjrani, Chairman Senate said that the business community was driving the economic growth of the country and assured that he would extend his full cooperation and support in resolving the key issues of business sector in order to facilitate them for promoting trade and industrial activities. He said this while exchanging views with a delegation of Islamabad Chamber of Commerce & Industry (ICCI) that called on him led by Sardar Yasir Ilyas Khan, President. Fatma Azim Senior Vice President, Abdul Rehman Khan Vice President ICCI, Umar Hussain, Omais Khattak and Muhammad Javed Iqbal Executive Members of ICCI were in the delegation.

Sadiq Sanjrani said that he would consider giving representation to ICCI in the Senate Standing Committee on Commerce and in other business related Committees so that input of the business community could be considered during the legislation process. He said that the government was giving priority focus to reviving the economy and was committed to overcome all economic challenges in cooperation with all stakeholders including businessmen and the civil society. He assured that the government would play the role of facilitator while the private sector has to take the lead in promoting the economy. He appreciated the role of ICCI for safeguarding the interests of the business community and assured that he would cooperate in its endeavors for addressing the major issues of the business sector.

Speaking at the occasion, Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce & Industry said that despite the challenges created by the Covid-19 pandemic, business community was making utmost efforts to revive the economic activities, however, it needed the support and cooperation of the government for promotion of trade and exports. He said that better representation of major chambers of commerce & industry in the standing committees of the Senate and National Assembly would facilitate the government in making strategic decisions including budget preparation in consultation with the business community that would have the ownership of public and private sectors for implementation. He emphasized that the government should also take the business community fully on board while finalizing FTAs with various countries for better promotion of trade and exports.    

Sardar Yasir Ilyas Khan proposed that a separate Committee consisting of the Presidents of major chambers of commerce and industry from across Pakistan should be formed in the Senate that should hold bi-monthly meetings to provide the input and recommendations of the private sector to the government on important business related issues. It would help the government to formulate more effective legislation and policies for improving the long-term economic outlook of the country. He said that the policies made unilaterally by the government normally don’t help address the issues of the business sector, however, the policies made by taking the input of the business community would ensure the sustainable economic growth of the country.Fatma Azim Senior Vice President, Abdul Rehman Khan Vice President ICCI and other members of delegation also highlighted various issues of the business community and requested for their urgent solution to steer the economy out of current challenges.