ISLAMABAD, JUL 9 /DNA/ – Nasir Mansoor Quraishi, President of the Islamabad Chamber of Commerce and Industry (ICCI), has emphasized that Pakistan’s aspiration to become a trillion-dollar economy can only be realized by ensuring industrial competitiveness, streamlining the cost of doing business, and adopting consistent long-term economic policies.
In a statement issued here on Tuesday, the ICCI President stated that Ease of Doing Business (EODB) remains a cornerstone for driving industrial productivity and fostering sustainable growth. “The goal of Pakistan becoming a trillion-dollar economy is achievable, but it hinges on robust industrial competitiveness supported by sound, forward-looking economic strategies,” he remarked.
He underscored the urgency of reducing the cost of doing business in order to enhance the global competitiveness of local industries. “If Pakistan wants to expand its exports and position domestic brands as influential players in the international market, it must prioritize lowering input costs and eliminating bureaucratic hurdles for businesses,” he added.
Highlighting key sectors with high growth potential, the ICCI President pointed out that pharmaceuticals, information technology (IT), and textiles could become engines of economic transformation. If properly incentivized and supported they could lead the country towards substantial foreign exchange earnings and job creation,” he said.
He further called upon the government to simplify the tax system, making it more transparent and business-friendly, while also ensuring that energy prices remain competitive to empower industrial growth. “High energy tariffs are stifling industry. There is a dire need to align energy costs with regional competitors,” he cautioned.
Quraishi also urged for the full-scale implementation of the One Window Operation across all sectors to remove red tape and promote foreign direct investment (FDI). “The entire economic ecosystem must be digitized and integrated to attract global investors and foster trust within the business community,” he maintained.
The ICCI President reiterated that with the right reforms, investment climate, and strategic focus, Pakistan has all the ingredients to emerge as a trillion-dollar economy in the coming decades.
