KARACHI, JAN 1 /DNA/ – Atif Ikram Sheikh, President FPCCI, has apprised that FPCCI and Balochistan Board of Investment & Trade (BBoIT) will be jointly organizing Balochistan Summit 2025 on January 27-28, 2025 in Islamabad – aimed at promoting business, investment, joint ventures industrialization and trade promotion activities in Balochistan on an international-scale.
It is pertinent to note that top civilian and military leadership of the country are expected to attend the all-important Balochiatan Summit 2025 to project and position the province as the foremost investment destination of the country.
Mr. Atif Ikram Sheikh reiterated apex body’s stance that Balochistan needs special attention of the government vis-à -vis industrialization; waivers in taxes & duties; setting up, incentivization & operationalization of special economic zones (SEZs); establishing Bank of Balochistan on the lines of other provinces and maintenance of law & order – which is an absolute necessity for economic activities to flourish and attract investors.
Mr. Bilal Khan Kakar, Vice Chairman, Balochistan Board of Investment & Trade (BBoIT), Government of Balochistan, explained that the motive behind taking FPCCI onboard this year is have the backing of the entire business, industry and trade community of Pakistan; and, ensuring their participation in the Balochistan Summit 2025 – as FPCCI represents all 284 chambers, trade bodies and industry associations of Pakistan across all sectors of the national economy.
Mr. Saquib Fayyaz Magoon, SVP FPCCI, maintained that like Bank of Punjab (BoP); Bank of Khyber (BoK) and Sindh Bank, the federal and provincial governments should facilitate the establishment of the Bank of Balochistan (BoB) to make access to finance for setting up industries in Balochistan possible and viable. Only a full-fledged and dedicated bank can fill the yawning vacuum in business and industrial financing in the province, he added.
Mr. Nasir Khan, VP FPCCI from Balochistan, maintained that the situation is grave and employment opportunities are shrinking fast for the youth as SMEs are the most affected business entities – and, SMEs are the real engine of growth for a developing country like Pakistan and generate the most employment in the country.
Mr. Nasir Khan stressed that, other than a bank of its own, the second most critically missing institution of economic significance in Balochistan is an insurance company. Without an insurance company, traders, industrialists, service providers, transporters and investors, all feel insecure to do business in Balochistan. He proposed a public-private partnership (3P) model for setting up institutions or organizations that create and support an ecosystem for a thriving business environment.
Mian Zahid Hussain, Chairman FPCCI-PAB, highlighted the fact that the people of Baloshistan are resilient; and, business, commercial, trade, investment, industrial and economic activities in the province are going on due to their dynamism. However, cottage industries and micro, small & medium (MSMEs) should be protected to keep the provincial economy afloat.
Mr. Ahmed Chinoy, senior member FPCCI & former CPLC Chief, highlighted the need for a major marketing and PR campaign for Balochistan to attract domestic and foreign direct investment (FDI) into Balochistan through assuring the investors and entrepreneurs full safety and security. FPCCI will be fully supporting the armed forces and the government in all such endeavors, he added.
