KARACHI: Quetta Women Chamber of Commerce & Industry’s founder president Fehmida Jamali said on Sunday that the new chief minister would support the provincial chambers of commerce for the economic prospectus of the province in its short and challenging tenure.
Investment scenario in Balochistan is now bright because of foreign investors’ interest in economic development of abundant resources in mineral, fisheries, agriculture and livestock sectors, and the province could be developed into a major trading and business hub, as the potential of Balochistan is now widely understood in the wake of CPEC,” she said while extending felicitations to Abdul Quddus Bizenjo on becoming the new Chief Minister of Balochistan.
She said active and aggressive private sector development was one opportunity of enormous importance to Balochistan in particular for accomplishment of economic development in the province.
She highlighted that the Balochistan government must find new and dependable sources of income to reduce its dependence on the federal government for its financial needs. “The financial problems in Balochistan should be an eye opener for the political leadership & economic planners of the province, and it is high time that they should draw a comprehensive economic and governance strategy that would facilitate tackling of the economic challenges requiring the urgent attention of the leadership, and also consider seriously preparing a strong economic foundation to get rid of total dependence on the federal divisible pool.”
“Similarly the Balochistan government should widen its revenue base by encouraging direct foreign investments in the province and seeking the International economic aid agencies and multilateral institution’s support in the socio-economic development of the province with the cooperation of the federal government,” she said. Fehmida said current political leadership in Balochistan should strongly support foreign direct investment and ensure that the message was reflected in bureaucratic policies and procedures.
The WCCI founder president further revealed that the province had countless prospect of economic growth under the sphere of CPEC, while the strategic importance of Gwadar Port was to open new vistas for economic development of the province of Balochistan, as it would help the province become a strategic business hub of the region, besides giving a new impetus to Pakistan-China relations.
“The government has to create a more conducive environment in the Gwadar city for development so that investors can look beyond real-estate business, as the Chinese investments have given confidence to the local tribes and now local and international investors are considering their direct participation in the economic development of the province,” she concluded.