Karachi-Mr. Kamran Tessori, Governor Sindh, has said that trade & industry is the backbone of the economy; but, still being neglected in policymaking and dealt unfairly as a result. He added that no economic, industrial, trade, fiscal or monetary policy should be formulated without consulting the business community. For this purpose, he has put forward the proposal that, the Prime Minister should establish a hotline with President FPCCI & his office; while stating the fact that he has already set up a hotline with FPCCI – the apex trade body of the country.
Mr. Kamran Tessori noted that the past one month’s experience tells him that the position of a provincial governor is not all that ceremonial; and, the governor can play a healthy, positive and fruitful role in becoming a bridge between the business community and the provincial & federal governments. He also reiterated his previous demand that the President of FPCCI should be given status of a minister of state and informed the audience that he has already written a letter in this regard to the federal government.
Mr. Irfan Iqbal Sheikh, President FPCCI, said that, while the entire country has suffered due to the recent floods, but Sindh province has suffered the most – and, it becomes all the more alarming due to the fact that Sindh produces 42 percent of national rice production; 31 percent of sugarcane and 23 percent of cotton. This phenomenon will further aggravate the national food security concerns; negatively affect the performance of agricultural sector and cause further shortages of cotton in the country.
Mr. Irfan Iqbal Sheikh highlighted that FPCCI is in the process to prepare a charter of economy and will approach all stakeholders and political parties to sign it – making it mandatory to have consistent economic policies for a period of 15 – 20 years. There is no other way than continuity of sound economic policies and no foreign direct investment (FDI), private-sector investment &any significant international joint ventures (JVs) will come to Pakistani; if our economic policies continue to be rickety.
Mr. Irfan Iqbal Sheikh noted that he has learned in his visit to Bangladesh that it is setting up 100 special economic zones (SEZs); while we only announced 13 SEZs and 6 out of them still exist only on paper.
FPCCI Chief relayed the collective concerns of the business community that Karachi’s commercial & economic environment is suffering enormously due to the poor performance and mismanagement of power supplies to the city by K-Electric. He also welcomed Governor Sindh’s invitation to nominate two of his representatives to Sindh Industrial Liaison Committee (SILC) to help resolve the infrastructural& other issues of industrial areas of the Sindh Province.
Mr. Suleman Chawla, SVP FPCCI, expressed his deep concerns that Sindh is the contributor of more than 60 percent of total gas in the country; and, yet it is the most affected province on account of gas load shedding, shortages and disruptions. He added that while only a few sectors have been given priority in gas supplies and other sectors like processed foods have been totally ignored; despite the fact that it is a large contributor in Pakistan’s exports.
