FPCCI Praises Prime Minister's Maiden Speech, Pins High Hopes To PTI Govt

Senior Vice President, Federation of Pakistan Chambers and Industry, Syed Mazhar Nasir lauded the maiden speech of Prime Minister Imran Khan describing his austerity measures as a revolutionary step to get the country out of financial crises.

KARACHI, (UrduPoint / Pakistan Point News - 20th Aug, 2018 ) :Senior Vice President, Federation of Pakistan Chambers and Industry, Syed Mazhar Nasir lauded the maiden speech of Prime Minister Imran Khan describing his austerity measures as a revolutionary step to get the country out of financial crises.

Commenting on the speech, he said the Prime Minister's message of austerity was very strong and practical which should be adhered for getting economic sovereignty of the country, said FPCCI's release here on Monday.

He observed that the trickle down effect of the austerity measure announced by Imran Khan would help a lot in reducing a colossal unnecessary expenditures resulting in massive improvement in the financial health of the country as a whole. He welcomed the proposal of creating a business advisory council to help address the problems and challenges being faced by the local exporters. This would indeed help in boosting our export and reducing the trade deficit which now stand at Dollars 37 billion, a long-overdue demand of the exporters, he said.

Mazhar Nasir assured the Prime Minister of full FPCCI support and cooperation in taking the country out of the financial pressure and putting it on the track of economic prosperity. The Business community would stand firmly by him in his efforts to overcome the dwindling economic situation of the country, he re-assured. He appreciated the decision of the Prime Minister to establish an office in the Prime Minister's secretariat, which would be dedicated to looking into the problems of the investors and persuade expatriates in investing in their homeland to boost the economy. The FPCCI in collaboration with board of Investment was ready to cooperate with the proposed Secretariat in this regard, he added.

Mazhar Nasir was of the view that the government's initiative to ensure Pakistan's embassies to dully fulfill their responsibilities including extending maximum facilitates to Overseas Pakistanis to invest in the country and help rebuild the economy. "I am sure with efforts of our foreign missions, the expatriates will bring their money to Pakistan through Pakistani banks as we are short of foreign exchange", he remarked.

He said that the Prime Minster has rightly said that small and medium enterprises (SMEs) were the backbone of many developing countries and there was a need to promote this sector. For this purpose, we would need to reduce the cost and difficulties to them in doing business.

He appreciated the desire of Prime Minster to improve the healthcare by reducing women and infant mortality rate besides addressing the issue of stunted growth of children due to malnutrition.

And, he mentioned, education system by improving government schools, allowing use of government schools buildings to private sector for evening school shift and bring reforms in Madarassa system. This would definitely prove a great contribution towards human development in particular and nation building as a whole.

He termed the Prime Minister's decision to make reform in the Federal Board of Revenue on a priority basis as timely and an important step. The restoration of credibility of FBR was must for widening the tax net in the country, he proposed. He also praised the Prime Minister's intention to strengthen National Accountability Bureau to play more effective role in containing the menace of corruption, which had eroded the economy of the country.