Islamabad: President Islamabad Chamber of Commerce and Industry (ICCI), Sardar Tahir Mehmood, on Friday stressed the urgent need for adopting a comprehensive export-led growth strategy, saying that sustainable economic prosperity, employment generation and macroeconomic stability could only be achieved by significantly enhancing Pakistan’s exports.
Talking to different delegations from the trade and industrial sectors here, he said Pakistan possessed immense industrial and entrepreneurial potential, but structural challenges, high cost of doing business, expensive energy, cumbersome taxation, regulatory bottlenecks and limited access to global markets continued to constrain the country’s export performance, said a press release.
Tahir Mehmood urged the government to formulate a long-term, predictable and business-friendly export policy that encouraged industrial expansion, value addition, innovation and diversification of export markets.
He emphasized that facilitating exporters through simplified procedures, affordable financing, technological upgradation and a competitive business environment was essential to unlocking Pakistan’s true export potential.
The private sector stood ready to work closely with the government in developing practical policies that promoted investment, industrialization and export competitiveness, he said adding that stronger collaboration between the public and private sectors would help restore investor confidence and place the national economy on the path of sustainable growth.
He reiterated ICCI’s commitment to serving as an effective bridge between the business community and policymakers, adding that the Chamber would continue advocating reforms aimed at improving the ease of doing business and strengthening Pakistan’s position in international markets.