Islamabad Chamber of Commerce and Industry congratulates winner of general elections and calls for short term plan for economic revival

Chambers of Commerce Official News

Islamabad, July 26, 2018 (PPI-OT): The Islamabad Chamber of Commerce and Industry (ICCI) has congratulated the PTI on emerging as the leading winner in the general elections 2018 and called upon it to announce a short-term plan for quick revival of the economy in case it assumed power in the center.

Sheikh Amir Waheed President, M. Naveed Malik Senior Vice President and Nisar Mirza Vice President, ICCI said that the economy of Pakistan was currently confronted with many challenges as the rupee has witnessed record depreciation, trade deficit as swelled to over $ 37 billion, exports were way behind the target, forex reserves have dwindled significantly while instead of becoming a manufacturing hub, Pakistan was turning into a trading country.

They said all these challenges demanded that the new government should accord top priority to form a new strategy in consultation with private sector to turn around the dwindling economy. They said Pakistan was facing serious financial constraints and the new government should take solid measures to improve the revenue generation of the country. For this purpose, focus should be on tax reforms and creating conducive environment for growth of industrial and manufacturing activities.

They said PTI has always been raising voice for good governance and time has come that it should translate its slogan into reality by taking strong measures for establishing good governance in all sectors in the country. ICCI Office Bearers said that many public sector enterprises including PIA, Pakistan Steel Mills, Pakistan Railways and power companies were running into loss due to which the country was spending Rs.500 billion to Rs.600 billion annually to keep such entities afloat.

They said PTI has always assured that if came into power, it would turn these entities into profitable enterprises. They emphasized that the party should now work to take practical steps for turning around these loss making enterprises. They said youth has lot of expectations from PTI as it has always spoken for youth development. They stressed that after assuming power, the party should take measures to engage youth in entrepreneurial activities through providing them easy loans and create jobs for them.

They said PTI should also focus on economic empowerment of women as women were half of our population and without bringing them into the mainstream of economy, it was not possible for the country to achieve sustainable economic growth. They assured that the business community would fully support the new government in its endeavours aimed at promoting business and economic activities in the country.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950