ISLAMABAD, JAN 20 /DNA/ – Nasir Mansoor Qureshi, the President of the Islamabad Chamber of Commerce and Industry, commended the sitting government, particularly Prime Minister Shehbaz Sharif, for taking decisive actions to improve the country’s economic situation and pull it out of its current challenges. He expressed optimism that these bold measures are beginning to show positive signs for the economy. However, he highlighted that Pakistan’s share in global exports has been consistently declining, with a reduction of over 20% in the past two decades. He stressed that prioritizing economic expansion is essential to counter rising poverty and unemployment.
Qureshi pointed out that while other nations have been lowering trade barriers and integrating their economies globally, Pakistan has moved in the opposite direction, maintaining tariffs that are at least twice the global average and three times higher than those of successful East Asian exporting countries. He warned that relying on foreign assistance to resolve the economic challenges is unlikely to succeed, as no country has achieved export-led growth without first implementing crucial domestic reforms. He emphasized that now is the time to address the hardships faced by the people and pave the way for meaningful change, urging the formulation of investment- and people-friendly policies through consultations with all stakeholders, including business leaders and chambers.
Nasir Qureshi went on to say that as far as the Islamabad Chamber of Commerce and Industry (ICCI) is committed to fostering an environment that promotes ease of doing business by actively addressing the challenges faced by the business community. Through continuous dialogue with government officials and relevant stakeholders, ICCI strives to identify and resolve key issues such as excessive regulations, complex procedures, and high operational costs that hinder business growth. The Chamber is dedicated to advocating for policy reforms that support entrepreneurship, enhance competitiveness, and simplify processes, thereby creating a more conducive environment for both local and international businesses to thrive. By focusing on these critical areas, ICCI aims to drive economic growth, stimulate investment, and create more opportunities for businesses to expand and succeed.
