Business Community Reposes Confidence In PM For Pursuing Prudent Economic Policies

ISLAMABAD, Aug 1 (UrduPoint / Pakistan Point News - 1st Aug, 2021 ) :United Business Group (UBG) in Federation of Pakistan Chamber of Commerce and Industry Sunday unanimously reposed full confidence in Prime Minister Imran Khan for successfully pursuing prudent economic policies to offset the impact of Covid-19 on national economy.

It was good omen that Prime Minister was taking top elected leaders of business community from all sectors into confidence prior to formulation of monetary and trade policies to push the national economy in the wake of deadly pandemic.

Central Chairman UBG and President SAARC Chamber of Commerce, Iftikhar Ali Malik informed this while talking to a delegation of traders led by Shahid Nazir Chaudhry, member executive committee Lahore Chamber, said a news release.

He said UBG top leadership including its patron-in-chief and other members of core committee decided in principle to support the Prime Minister and extended a helping hand in the larger national interests for bringing gradually structural economic reforms mainly aimed at strengthening economy.

He said the private sector was the engine of economic growth, creating jobs, increasing trade, providing goods and services to the poor besides generating tax revenue.

He said the government played a central role in supporting economic growth and reducing abject poverty by fully ensuing result oriented sustainable policies.

He said the vast majority of constraints to economic growth identified by the private sector were directly linked to government decisions and actions which, he added, needed to be addressed on top priority to accelerate the economic activities in the country.

Malik said continuous stable democratic process was a key factor for sound economy. He said the prime minister attached great importance to the private sector for ease of doing business and all out sincere efforts were being made to provide business friendly environment to gear up trade activities.

He said private sector provided around 90 percent of employment including formal and informal jobs which also funded 60 percent of all investment and provided 80 percent of government revenue.

He said private sector would continue to contribute its role in boosting export and to speed up industrialization for prosperity of the down trodden segments of the society.