KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lost its credibility to represent business community and resolve their problems as individuals are using it for their vested interests.

Dr Ayub Mehar, Pakistan’s top economist, pointed out that apex trade body had no consistent economic policies; however, the office-bearers were working for their own interests instead of the national interest. He further noted that the other national chambers of the world were playing major role in globalization, economic policies, formulations and in economic diplomacy, but FPCCI role is negligible and the institution is facing rapid deterioration which can be depicted by their absence in making of national policies.

The report said that the federation committees on Ease of Doing Businesses has showed extreme non-serious attitude and there was no progress in previous year (2017) though the idea behind establishing the committee in the FPCCI is to evolve policies for better working environment in the economy while making or recommending the concerned government institutions for taking and executing the necessary measures.

Another serious concern has been highlighted in the report that the committee on China-Pakistan Economic Corridor (CPEC) at the national chamber has failed in showing any performance regarding the interest of the country. However, the government and FPCCI have signed MoU for public-private partnership in order to promote the economic zones through industrial activities at the CPEC routes. It was aimed that the participation of FPCCI in CPEC project would ensure the transparency in whole activities and to manage economic zones effectively for further trades and investments in a way to serve for the national interest.