Islamabad
The Pakistan Industrial Associations Front (PIAF) has reiterated the urgent need for coordinated national efforts to address the country’s deep-rooted economic challenges. Emphasizing unity, institutional collaboration, and economic reforms, PIAF called upon the government, private sector, and civil society to work in tandem to stabilize and revitalize Pakistan’s economy.
PIAF Chairman Faheemur Rehman Saigol acknowledged the difficult circumstances under which the economy is operating, citing high inflation, growing public debt, and structural inefficiencies.
However, he expressed confidence in the nation’s potential and resilience, stating that with consistent and collaborative efforts, Pakistan can emerge from its current fiscal difficulties and set itself on a path toward sustainable development.
In a joint statement along with senior vice chairman Nasrullah Mughal and vice chairman Tahir Manzoor Chudhary, Faheem Saigol particularly lauded the government’s ongoing economic recovery initiatives, appreciating its commitment to tackling inflation, enhancing tax collection, and restoring macroeconomic stability.
He also praised the continued support and stabilizing role of the armed forces in ensuring national security, law and order, and protection of critical infrastructure, which are all vital components of an investment-friendly environment.
“The government and our armed forces have played a crucial role in safeguarding the country during trying times—whether during natural disasters, pandemics, or external threats. Their unwavering support for economic continuity deserves our recognition,” he said.
The PIAF chairman stressed that while the challenges are many, the solutions lie in long-term strategic thinking and institutional reforms. He called for a national economic charter—agreed upon by all political and institutional stakeholders—to ensure policy consistency over the next 15 years. This, he said, would help rebuild investor trust, encourage industrial growth, and foster job creation.
He identified poor tax compliance, energy inefficiencies, and bureaucratic hurdles as major impediments to business development. “Pakistan ranks among the lowest globally in ease of doing business. A single enterprise often faces dozens of overlapping taxes and regulatory burdens. We need a streamlined, business-friendly framework that empowers rather than obstructs,” Saigol noted.
The issue of circular debt in the energy sector was also highlighted as a major fiscal burden. He urged the government to reform the energy market, enhance transparency, and encourage private sector participation in renewable energy to reduce reliance on imported fuels and improve efficiency.
Saigol also pointed out that Pakistan’s development potential is being undermined by issues such as poor governance, outdated legal frameworks, lack of digital infrastructure, and insufficient planning based on reliable data. These systemic issues, he said, must be addressed through cross-sectoral cooperation and institutional strengthening.
“The business community stands ready to support the government in its efforts,” he said. “But this partnership must be grounded in transparency, fairness, and accountability. The only way forward is through shared responsibility.”
He called for urgent measures to broaden the tax base, reduce dependency on foreign loans, and focus public spending on human development, education, and healthcare. The country’s low tax-to-GDP ratio, coupled with high debt servicing costs, leaves little room for developmental initiatives unless comprehensive reforms are introduced.
PIAF emphasized that political stability, institutional harmony, and economic foresight must go hand in hand. Saigol urged political parties and provincial governments to work in alignment with the federal government to ensure efficient service delivery and effective implementation of reforms.
Concluding his statement, Faheemur Rehman Saigol expressed optimism that with unity, a clear vision, and commitment to reform, Pakistan can overcome its current crises. He reiterated that the private sector, civil society, government institutions, and the armed forces must act as partners in progress to ensure a secure, stable, and prosperous future for the nation.
