Business

FPCCI and BBoIT to host Balochistan Summit 2025

By Our Correspondent

January 02, 2025

Officials of FBCCI and BBoIT can be seen in this image. — FPCCI/File

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Balochistan Board of Investment & Trade (BBoIT) will jointly organise the Balochistan Summit 2025 on January 27-28 in Islamabad.

The event aims to promote business, investment, joint ventures, industrialisation and trade activities in Balochistan on an international scale. Atif Ikram Sheikh, president of the FPCCI, said that Balochistan requires special attention from the government in areas such as industrialisation, tax and duty waivers, the establishment and incentivisation of special economic zones (SEZs), the creation of the Bank of Balochistan similar to those in other provinces, and the maintenance of law and order -- an absolute necessity for economic activities to thrive and attract investors.

Bilal Khan Kakar, vice chairperson of the Balochistan Board of Investment & Trade (BBoIT), explained that the decision to involve the FPCCI this year was driven by the desire to gain the backing of the country’s entire business, industry and trade community. The FPCCI represents all 284 chambers, trade bodies and industry associations in the country across various sectors of the national economy, ensuring broad participation in the summit.

Nasir Khan, vice president of the FPCCI from Balochistan, highlighted the worsening situation in the province, noting that employment opportunities are shrinking rapidly, particularly for young people. Small and medium-sized enterprises (SMEs) -- which are the backbone of the economy and the largest source of employment -- are facing severe challenges.

Khan also added that, apart from the need for a bank, Balochistan urgently requires an insurance company. Without such an institution, traders, industrialists, service providers, transporters and investors feel insecure doing business in the province. He proposed a public-private partnership (PPP) model to establish institutions that would create and support a thriving business ecosystem in Balochistan.