The Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Muhammad Aman Pracha, has emphasized the need to restore the confidence of both local and foreign investors and industrialists. He highlighted that necessary steps must be taken to stabilize the national economy by addressing exporters’ issues.
“Pakistan is currently grappling with many problems. The current government alone cannot overcome Pakistan’s difficulties in such circumstances. To resolve these challenges, all segments of society must unite and work together to find solutions,” he said while speaking with a delegation of traders.
Aman Pracha stressed that Pakistanis, politicians, intellectuals, business people, industrialists, and bureaucrats must unite to take the country out of its current crisis. “For this, we need to set aside differences and sit together to formulate policies that can put the country on the path of progress and be acceptable to all.”
He pointed out that around the world, investors are attracted through attractive incentives, and Pakistan’s government must also develop policies promoting investment within the country. “We must also work to bring back the capital that has moved abroad. This can only happen through mutual consultation and addressing investors’ concerns so they can once again set up industries here. To do this, the government should bring the leadership of FPCCI on board.”
Aman Pracha also acknowledged the government’s claim of a reduction in inflation but emphasized that over 40% of the population lives below the poverty line. He noted that it is crucial to investigate why Pakistan lags behind in the region. “We need to address the causes of unemployment in the country, restore investor confidence, and have all institutions meet with investors to resolve their concerns and encourage new investments. This will help reduce unemployment and provide better job opportunities for youth considering migrating abroad.”
The FPCCI Vice President further mentioned that to make business easier, the role of agencies must be minimized. “High tax rates and rising tariffs on power, gas, and water have severely harmed businesses. The infrastructure in Karachi needs to be improved, and law and order conditions must be enhanced. The rise in street crimes is alarming, and law enforcement agencies’ control over criminal elements is weakening.”
He also stressed that taxpayers’ dignity must be preserved and provided with all the necessary incentives to conduct their businesses in a better, more friendly environment.
