Ghazanfar Bilour calls for framing business and trade friendly policies
PESHAWAR
Businessman Forum leader Ghazanfar Bilour has expressed serious concerns over the rapid economic meltdown and feared the government’s stringent measures would bring further devastation and deterioration.
A statement issued here on Monday, Ghazanfar Bilour gave a heavyweight behind remarks of Patron in Chief of the United Business Group S.M Tanveer about the current state of economy, calling his stance a true reflection of facts on the ground.
The BF leader said S.M Tanveer during a press conference, has presented a true picture of the country’s economy.
He urged the government and relevant institutions to take the figures and indications, he (S.M Tanveer) mentioned, must be taken into account seriously.
Ghazanfar Bilour stated cosmetic steps cannot put the economy on sustainable growth.
A sharp decline in industries and business growth is being witnessed over the past many years, he remarked.
KP businessmen are currently in a state of great trauma and shock under the prevailing circumstances, Mr Bilour remarked while referring to the prolonged border and transit trade routes closure.
BF leader furthermore, said export is consistently stagnated whereas current account deficit is gradually growing up.
Ghazanfar Bilour attributed the high power, gas tariff, unjust and unlash taxes, and current interest rate as the major cause and factors of the prevalent slowdown in economic and commercial activities.
He expressed resentment over passage of Companies Amendment Act through parliament, stating corporate social responsibilities tax has been imposed under this legislation, fearing the move will lead the business and trade activities to further sluggishness.
The BF leader made it clear that investment would come in Pakistan only when established industry and business should be incentivized.
Ghazanfar Bilour said the business community is ready to extend any support to stabilize and strengthen the economy.
But, he stressed it is also crucial to revisit the policies and make them business and trade-friendly.
The BF leader called for freeing the country’s economy from pressure from the IMF.
So, he emphasized it is a dire need of hour to take concrete steps to open new avenues of investment and create job opportunities.
The BF leader lauded the efforts of the Special Investment Facilitation Council (SIFC) for creating an enabling environment for investment, businesses and trade.
Mr Bilour called upon the government and relevant institutions to take chambers and business leaders, community on board before framing economic policies and taking initiatives so that they will produce tangible results and put the economy on a path of sustainable growth and prosperity.
