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Wednesday, July 17, 2024

PM Imran Khan’s decision to meet business leaders for economic feedback lauded

Prime Minister Imran Khan's decision to take economic feedback from business leaders has been lauded by PBIF president Mian Zahid Hussain

Prime minister Imran Khan’s decision to meet with business leaders and get their feedback for economic improvement has been lauded in the business community reported ‘The Nation,’ today. President Pakistan Businessmen and Intellectuals Forum Mian Zahid Hussain said that the decision was welcome within the business community. Mian Zahid is also the president of All Karachi Industrial Alliance and was also a provincial minister.

Business leaders welcome initiative

Mian Zahid Hussain explained that the recommendations of the business community should help the government uplift the economic situation. He also said that the move will catalyze the country’s industrialization, mitigate unemployment, and increase the national reserves.

Mian Zahid also expressed how eager the Prime Minister was to support certain neglected sectors of the economy such as SMEs and the community expected positive initiatives for such sectors.

Changing trends in regional export trends?

Talking to the business leaders, Mian Zahid said that the export sector should get special attention as export earnings are necessary to run the country.

He explained that currently the potential of exporters was being hindered by government officials, taxation issues, energy scarcity, and ending refunds. This, he said was a mitigating factor in the respective industries focuses on exports. Since Pakistan, he continued, had relatively successfully managed the COVID-19 pandemic, increasingly the attention of foreign buyers was being diverted towards Pakistan.

Read more: Sharif Under Siege – By Zahid Hussain

The closure of factories in neighboring India and other regional issues had propagated this change according to him.

The government should benefit from the changing trends to gain lost share in the international market. He suggested that the policy of borrowing from exporters in the name of refunds should be stopped.

“The refund system is very faulty,” Zahid said. The refund system should be improved to better the situation, otherwise, exporters would not be able to deliver according to their potential.

GVS News Desk