The loans taken from IMF never invested for the betterment for the country nor the business community was taken into confidence for the future economic policies, this was stated by Governor Sind Muhammad Kamran Khan Tessori addressing the business community at a dinner reception hosted by Khalid Tawab Former Sr. Vice President FPCCI and Honorary General of Mozambique at his residence Tawab House Karachi. The reception was also attended by UAE General Bakhit Atiq Al Reimi and a large number of business community.
Muhammad Kamran Khan Tessori Governor Sindh further said that the business community is the backbone of our country who are the real heroes who are facing the worst challenges. He lamented that the loans and incentives taken by the governments from the brotherly countries seem to have never been utilized for the improvement of infrastructure and economic prosperity.
He further said that the other developing countries like India and Bangladesh have gained economic prosperity through their investment policies and export prospects. Their foreign exchange reserves are quite exorbitant while Pakistan takes loan to pay off its debts which is the dilemma. Pakistan needs more than 90 billion dollars of foreign exchange while we are still asking for loans to pay off our debts, he added.
Further commenting on the economic situation he said that progress is still going on in Tamasha, for a better future and economic policies are being devised.
The dinner was attended by prominent industrialist and business community which were also addressed by UAE Consul General Bakhit Atiq Rumithi who spoke at length about the Pakistan UAE economic relations which need to be further expanded in all sectors.
Khalid Tawab also spoke on the occasion and highlighted the problems being faced by the business community particularly SME and cottage sectors which are almost at the verge of collapse. He proposed that Pakistan should be given the same incentive of zero rating on its export to UAE as given to India. He said that people of Pakistan always consider UAE as second home.
President of Karachi CCI Tariq Yusuf, Zuibair Tufail President UBG also spoke on the occasion expressing their concern and anxiety on continuous out flow of foreign investment and young talent. The prominent figures at dinner included former Governor Sindh Retired General Moinuddin Haider, Hanif Gohar, Sardar Yasin Malik, Gulzar Feroze, Engineer Daru Khan, Mian Zahid Hussain, Tariq Haleem, Ahmed Chinoy Rashid Siddiqui, Shoukat Saleem, Zubair Chhiyazah Saeed, Nadeem Kishtiwala. Dr Ikhtair Baig, Sheikh Umarihan, Naheed Masood, Rizwana Shahid, Maryam Chaudhry, Saeeda Bano etc.
