Economy Should Be Recognized As Fifth Pillar Of State: FCCI Chief

FAISALABAD, (UrduPoint / Pakistan Point News - 1st Feb, 2023 ) :In a globally changing scenario, the economy had gained importance and now it should be recognized as the fifth pillar of state to drag out the country from economic upheavals, said Dr. Khurram Tariq, President Faisalabad Chamber of Commerce & Industry (FCCI).

Addressing a delegation of under training officers of the 32nd Senior Management Course (SMC) at National Institute of Management (NIM) Peshawar, he introduced Faisalabad and FCCI in addition to responding to the multifarious questions from the participants and said that predominantly Faisalabad had an agro industrial base which made tremendous progress during the first century of its inception.

He said that basic responsibility of the FCCI was to project and get resolved the problems confronted by its members through proactive business advocacy. He particularly highlighted the philanthropic aspect of Faisalabad and said he was in Kot Addu last Saturday where FCCI intends to build one hundred houses for flood affectees in the first phase of its massive rescue plan.

He also mentioned that series of relief activities and said; "We worked systematically and provided ration and woollies to the displaced persons and now we are going to construct 500 houses out of which first hundred would be provided to the flood victims of Kot Addu." He said that FCCI has an ambitious plan to develop a new civilian airport which could be used as a multi-transport model for the entire country.

He said that secondary runway of the existing Faisalabad International Airport was nearing completion which would be inaugurated by the end of this month.

The FCCI President said that wide bodied planes could land on the runway which would further attract international airlines to start their flights from this emerging hub of industry, business and trade.

He also aspired to develop Faisalabad into a centre of Information Technology (IT) for which efforts had already been initiated to provide an ecosystem.

Responding to a question, Dr Khurram Tariq said that generally four pillars had been identified but now the economy had emerged as the most powerful pillar of any state which provides financial support to the remaining four pillars.

Commenting on the current economic scenario, he said that political uncertainty and inconsistent policies had played havoc with the economy which was in dire straits. He said that business leaders from all over the country had decided to raise their voice for the formal recognition of the importance of this fifth pillar with its practical involvement in policymaking at the highest level.

Responding to yet another question, the FCCI President said that Pakistan's share in world textile trade was only one percent as we failed to switch over to the innovations. He said that during corona, the mask making industry was also established but it was now facing closure as the pandemic threat was over.

Directing Staff NIM Peshawar Madam Nafees Rahim also spoke on the occasion.

Later, Dr Khurram Tariq presented FCCI shield to Madam Nafees Rahim while she also reciprocatedand presented the memento of NIM Peshawar to him.