INP
LAHORE
Chairman Businessmen Panel (BMP), Mian Anjum Nisar has said that the United Business Group (UBG) should improve its performance in FPCCI or head home, only wining the elections through smart tactics doesn’t indicate that you are popular in country’s business community.
Talking to the senior members of trade and Industry here on Saturday, Mian Anjum Nisar said at present majority chambers and association are fed up on the performance of the FPCCI, instead of Federation Chambers fought for their rights but they are continuously focusing on their own gaining agendas and remain busy to please the UBG right wing through different incentives which is not acceptable and it against the rules of the business of the apex trade body.
He said that the business community is the backbone of the economy and early resolution of their issues must be a top priority of government in the coming budget and we are expecting that the first PTI budget in the month of June will be a helpful for industry and common man”.
However the feedback of business community is of utmost importance and representatives of trade and industry may be taken on board, he said adding that being a major stakeholder and pillar of economic structure, business community deserves respect but FPCCI have no plan of action in this regard to negotiate with the government departments.
Anjum Nisar pledged in the view of current economic crises and bleak performance of FPCCI; this year the manifesto of the Businessmen Panel “How to reshape the FPCCI for an effective role in the country economy” for the forth coming federation election.
He further said today there is a dire need to make sincere efforts to upgrade textile industry on modern lines, promote value-addition in textile sector, besides providing level playing field to the businessmen engaged with textile sector.
Yet no steps have been taken so far to reduce cost of doing business, Anjum Nisar said and urged the government to hold a dialogue with the stakeholders for bringing down cost of doing business.
He said, “We must understand no country can survive with exports constantly dwindling. Countries like Malaysia, Thailand and Bangladesh are flourishing through their exports. Our dream should to get exports back to $30 billion by the year 2020,”
“Over the course of our economic history, the different experiments with federal and provincial industrial policies led to low industrial growth in Pakistan. Similarly, the industry which is paying its taxes judiciously is facing trust deficit. It is need of the hour to stimulate industrial growth too, leading to higher GDP growth,” Anjum Nisar added
Similarly, the BMP Chief mentioned free float of dollar is not suitable for Pakistan Economy. What’s Pakistan is currently facing significant economic challenges, with declining foreign exchange reserves, diminishing growth and increasing trade deficit, he added.
The rupee dropped to 151 a dollar which showed making it the worst performer in a basket of 13 currencies in Asia which needs be reversed back for cheap imports for the industrial raw material. He said even in Afghanistan one dollar equal to 79 Afghani and in Nepal one dollar equal to 112 Nepali rupee.
