(June-23-2023) Former Vice President of FPCCI Atif Ikram Sheikh said on Friday that Army has agreed to play a role in boosting the economy, which is very encouraging for the business community.
The government has announced an Economic Revival Plan to address economic issues and promote prosperity, and the business community is pinning high hope on the plan and the COAS amid the economic downturn, he said.
Atif Ikram Sheikh who has also served as President ICCI and Chairman PVMA said in a statement that the Special Investment Facilitation Council has been established to attract investment and the Army’s contribution in it will be significant.
The economic revival plan recognises the importance of domestic development and foreign investment while the Army has assured to support these initiatives, which has gone down very well with the business community, he added.
The business leader said that the Army’s commitment was very essential for the success of the plan and the plan require a secure and stable environment which the Army can provide.
In order to maintain stability and national security, the Army can help protects domestic and foreign assets which will be favourable for the commercial activity and encourage local and foreign investors, he added.
The plan emphasises the value of cooperation between civilian and military leadership which will encourage good decision-making, optimise use of available resources, and accelerate investment and execution, he observed.
Atif Ikram Sheikh said that one of the industries targeted for expansion and development is the production of defence equipment, which will have a substantial economic impact.
He noted that human resource development and job creation are essential for a healthy economy, which has been stressed in the plan. This will help people become more independent, promote economic inclusion, and lower unemployment rates through providing vocational training, encouraging entrepreneurship, and job creation.
Building infrastructure is essential for boosting the economy and luring investors and this plan will help improve connectivity, facilitate trade, and bolstering the general investment climate by constructing roads, bridges, dams etc.
The economy can be adversely impacted by catastrophes, and the Army plays a crucial role in reducing the negative impact of such occurrences because of its well-established disaster response and relief capabilities.
It also helps to restore economic activity in impacted areas, fostering resilience and stability, by offering immediate assistance, relief supplies, and rehabilitation support, he said.
It is impossible to overestimate the contribution of the Army to the development of the national economy, he concluded.
