Islamabad
\nThe Pakistan Industrial Associations Front (PIAF) has reiterated the urgent need for coordinated national efforts to address the country\u2019s 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\u2019s economy.
\nPIAF Chairman Faheemur Rehman Saigol acknowledged the difficult circumstances under which the economy is operating, citing high inflation, growing public debt, and structural inefficiencies.
\nHowever, he expressed confidence in the nation\u2019s 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.
\nIn a joint statement along with senior vice chairman Nasrullah Mughal and vice chairman Tahir Manzoor Chudhary, Faheem Saigol particularly lauded the government\u2019s ongoing economic recovery initiatives, appreciating its commitment to tackling inflation, enhancing tax collection, and restoring macroeconomic stability.
\nHe 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.
\n\u201cThe government and our armed forces have played a crucial role in safeguarding the country during trying times\u2014whether during natural disasters, pandemics, or external threats. Their unwavering support for economic continuity deserves our recognition,\u201d he said.
\nThe 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\u2014agreed upon by all political and institutional stakeholders\u2014to ensure policy consistency over the next 15 years. This, he said, would help rebuild investor trust, encourage industrial growth, and foster job creation.
\nHe identified poor tax compliance, energy inefficiencies, and bureaucratic hurdles as major impediments to business development. \u201cPakistan 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,\u201d Saigol noted.
\nThe 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.
\nSaigol also pointed out that Pakistan\u2019s 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.
\n\u201cThe business community stands ready to support the government in its efforts,\u201d he said. \u201cBut this partnership must be grounded in transparency, fairness, and accountability. The only way forward is through shared responsibility.\u201d
\nHe 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\u2019s low tax-to-GDP ratio, coupled with high debt servicing costs, leaves little room for developmental initiatives unless comprehensive reforms are introduced.
\nPIAF 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.
\nConcluding 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad The Pakistan Industrial Associations Front (PIAF) has reiterated the urgent need for coordinated national efforts to address the country\u2019s 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\u2019s economy. PIAF Chairman Faheemur Rehman Saigol […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-479410","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n