Prominent industrialist and Baig group chairman Dr. Ikhtiar Baig position is of paramount importance in the business community. His company, Baig Group, has served in various sectors in Pakistan, UAE and Morocco for the last 35 years.
Dr. Ikhtiar Baig holds a Master’s and Doctorate degree in Marketing from the United States while being a successful industrialist, he also has extensive banking and finance experience. Dr. Ikhtiar Baig has written seven books on national and international economic issues – Part I, Part II, “Economic Facts and Pakistan”, “Pakistan and the Economy”, “Economic Challenges facing Pakistan”, Is also the author of “Domestic Economy and Our Priorities” and “South Asian and Pakistani Economy.” He has been writing columns in the country’s leading newspapers on economic issues for the last 16 years, recently published his biography “Limitless Pakistani A”. The policy makers of the country attach great importance to Dr. Ikhtiar Baig expert opinion. Dr. Ikhtiar Baig also lectures on the national economy at the National Defense University (NDU), the National Institute of Management (NIM) and other universities.
He has been awarded the prestigious international journal “Economist” for his services to Dr. Ikhtiar Baig, while President Pakistan has also conferred on him the highest civilian award “Tamgha-e-Imtiaz” for his outstanding service. Dr. Ikhtiar Baig is the honorary consul general of the People’s Republic of Yemen in Sindh and the elected Dean of the honorary consul in Pakistan, Corps Sindh. Dr. Ikhtiar Baig is also a board member of the World Federation of Consulates (FICAC). The President of Yemen has given Dr. Ikhtiar Baig the “Order of Merit”, Yemen’s highest civilian award for promoting Pak-Yemen trade and investment. In recognition of his valuable services in the fields of banking and finance but he has been given many awards, including gold medals by President Pakistan. His company has been receiving the “FPCCI Special Export Merit Award” from the President and Prime Minister of Pakistan over the best export of denim fabric for the last 15 years. CEO Club Pakistan has consistently awarded him 100 Successful CEOs and Business Leaders Award for the last 3 years. Dr. Ikhtiar Baig has also won the Philippine President Rodrigo Duterte’s “World Goose Piece Prize 2018”.
Dr. Ikhtiar Baig as Federal Advisor Textile contributed to the formation of the first 5 year National Textile Policy (2009-14). He is also the chairman of the Think Tank of the 21st Century Business and Economic Club, which offers recommendations on important economic policies at the national level. Dr. Ikhtiar Baig has been associated with FPCCI for 25 consecutive years and has been chairman of FPCCI’s Banking, Credit and Finance Committee for the past 15 years. He is also the Chairman of Pak UAE Business Council. He represented the private sector in meetings of various Joint Ministerial Commissions for mutual trade and investment in Pakistan and abroad. Participate in social activities.
Dr. Ikhtiar Baig is the Founding Chairman of the Pakistan Denim Manufacturers and Exporters Association. The Federal Board of Revenue recently nominated Dr. Ikhtiar Baig to the ADR Committee for resolving business community income tax, sales tax and excise duty disputes in the FBR. Dr. Ikhtiar Baig is also the Secretary General of the Make-A-Wish Foundation Pakistan, an international organization that fulfills the ultimate aspirations of abused children. The details of their interviews are as follows.
You’ve been writing on the economy for a long time. How do you critically analyze this government’s policies?
Dr. Ikhtiar Baig: The only criticism I have of this government is that they made their first Finance Minister Asad Omar, who already had a balance sheet, knew about the financial situation of the country and was aware of the current account situation, trade deficit. They knew about the financial situation of the previous government, they knew about the $ 18 billion deficit, they also knew about the $ 35 billion trade deficit, our bad times were not increasing while ours. Imports have reached $ 60 billion; they should have created a shadow policy to address these issues, which we call the Road Plan. What they did not make, Assad Omar did not plan, they continued to take ad hoc measures, overnight loans increased to $ 750 billion, they were loans that were neither taken nor used, Only the value of the dollar increased the value of the loans, they had no homework for the finance ministry.
What is the reason that in democratic governments, businessmen do not have the luxury that they find in dictatorial government?
Dr. Ikhtiar Baig: The greatest advantage a dictator has is that he has the uniform and the institution behind him to decide whether to care for anyone, while the democratic government has to look for allies and the voters, too, have to see that their decision does not affect their vote bank. If the democratic government has a good mandate, then it is up to them to decide, but the current government will and the situation is different.
What are the most important issues facing the business community right now?
Dr. Ikhtiar Baig: The most important issue is not getting exporters’ income tax and sales tax refunds at this time; 4 billion of which has been received from us, the Prime Minister said that in the last 5 years, the Muslim League government has withheld 3000 billion funds, how can I pay it?
Which government has paid more attention to business community issues?
Dr. Ikhtiar Baig: People’s Business Is Business Friendly Party Businessman’s work in the PPP government does not suffer from postponement; Bureaucracy has been plagued with numerous obstacles in subsequent governments, where such uncertainties are difficult to make decisions. And, where there will be no timely decisions, there can be no investment nor policies implemented,
What do you think about the current government, will it meet its timing?
Dr. Ikhtiar Baig: We want to give them time but they have to make changes to their team or change policies. In the first year and a half, they raised gas and electricity prices, increased the discount rate, increased the dollar record, regulatory Imposed duty, increased inflation for the common man, and launched an operation against unplanned enclosures that affected the business of the people. Operation against the encroachment has begun but a plan for that too there was a need, and an alternative place should have been provided before the operation. If the victims did not go there, then it can be said that we have provided the place but they are not going. Bahria Town has certainly made mistakes but it has invested in a common man. Instead of stopping the project, an administrator should be appointed who will be a retired judge so that if the project goes on, there will be unemployment increase. Investment of people abroad will also be affected, what is the fault of the investors, it Mom words, do not I Good governance category.
How long does it take to improve the Pakistani economy?
Dr. Ikhtiar Baig: The economy has to change the mindset, not day or month, for the betterment of the economy. His team has put a strong emphasis on corruption. Eliminating corruption is not the only thing the government has done. You have turned away from the economy, given up on industrialization, are not giving job opportunities, you have no focus on exports. By turning away from the issue and focusing only on corruption, we also want the country to end corruption and the NAB unequivocally. Do it now, but that’s part of the good governance rule, focus on the rest of the 90% good governance work,
