Businessmen Panel Pakistan’s senior vice chairman and former provincial minister Sindh, Mian Zahid Hussain and Presidential candidate of BMP, former chief minister Balochistan Allauddin Marri while talking to the business community said that Prime Minister Imran Khan’s meeting with different delegations of the business community and assuring the inclusion of their recommendations in the policies is appreciative and encouraging for investors and industrialists. Karachi trade and industry hub of the Country, despite contributing to 70 percent of the Country’s revenue became a hub of severe issues.
Leaders of the Businessmen Panel said that refunds of exporters are still pending up to Rs. 300 billion, requires early consideration. Karachi has the potential to turn the Pakistan’s industrial map but it’s required that government should provide the industrialization friendly environment according to its vision where investors’ trust do not shake and local as well as foreign investors prefer Pakistan as new investment destination. The law and order has been improved given to the joint operations by Army, Rangers, Police and LEAs over the years. Practicing traffic rules have also been improved due to efforts being made by Additional IG Police Dr. Amir Sheikh and more betterment is expected in this regard; however, to make Karachi a crime free city, implementation of safe city project is vital.
BMP Leaders said that investment is improved in different sectors including automotive, information technology and tourism. MNCs with existing operations in the Country are intended to increase their investment in Pakistan including Pepsi Pakistan and Coca Cola. In order to attract investment, government need to provide ease of doing business in the Country. The long awaited development projects of Karachi like Circular Railway, K-4 and Karachi rapid bus transport need an early completion, for which government need to take action.
Mian Zahid Hussain said that the industrial sector is facing problems and difficulties in getting smooth supply of gas and electricity. The export sector, large scale manufacturing and small industry are equally affected with this problem. The government should provide uninterrupted utility supply to the industrial sector on competitive rates in accordance to the regional countries, so that the industries being suffered due to this problem may get compensated.
Allauddin Marri said that it is important for the government to introduce long run and stable policies in order to restore investors’ trust and attract foreign and new local investment in the Country. Due to unstable policies, the Karachi stock exchange has been declined by more than 2 thousand points in the first week of this month caused billions of losses to investors. Dollar unexpected appreciation also discouraged investors and traders.