Uraan Pakistan termed a major breakthrough in economic stalemate

FAISALABAD: The Economic Transformation Plan (Uraan Pakistan) will help the government to achieve the new economic targets in order to make Pakistan a trillion-dollar economy by 2035, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce and Industry (FCCI).

Talking to newsmen here, he termed the Uraan Pakistan a major breakthrough in economic stalemate by switching over from import dependence to export centric strategies which is must to get rid of poverty in addition to putting the country on road to progress and prosperity. He stressed the need for consultation with the business community to make the government’s economic framework productive, result oriented and sustained.

He further said that no government policy could yield desired results within a given timeline unless and until, it was owned by the real stakeholders. He said that direct involvement of the business community in policy formulation was a must and with their input the government policies could be fine-tuned and yield better results within a minimum timeframe.

He said that there was no dearth of resources and we must take appropriate measures to fully exploit the untapped potential of different sectors. He said that only five sectors had been identified as key economic drivers including IT, agriculture, export, mineral and mineral resources. He underlined the importance of the textile sector and said that at least 16 subsectors of this value-added chain were still underutilised.

He said that if only one per cent growth target was fixed for each segment starting from ginning, spinning, weaving, dyeing and calendaring up to finished garments, we could achieve a gross increase of 16pc in only one year. He said that similarly the IT sector had unlimited potential, but the government must ensure continuity of the policies in addition to providing a conducive business climate to get maximum share from this services sector.

The FCCI president said that the business community could play its key role in stabilising the economy within the shortest possible time provided the government fulfils its two basic fundamental responsibilities of providing consistent policies and conducive climate.

Meanwhile, the FCCI and the KCCI would make joint efforts for the formulation of economic policies and removing the irritants haunting the business community, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce and Industry (FCCI) in a meeting with Muhammad Jawed Bilwani, President KCCI.

He said that the government must consult the business community to formulate long term, workable and result oriented policies to stabilise the economy on a long term basis. He further said that the FCCI and KCCI in collaboration with other chambers would also help the government in the budget formulation for the next financial year. He said that steps would be proposed so that the government could achieve its economic goals within the stipulated time frame.

They decided to bolster mutual relations between the business community and collaborate to formulate policies to provide maximum facilitation to the trade and industry.

SHO SUSPENDED: The CPO has suspended SHO Muzaffar Ali of Mansoorabad police station on charges of exceeding his authority.

Further investigation is under way.

RICKSHAW DRIVER DIES: A rickshaw driver died in an accident on Small Estate Road at Nishatabad.Haroon, a resident of Makoana, was transporting goods on a loader rickshaw when a loose chain hanging above caught his shawl, resulting in his strangulation.