Govt striving hard for economic betterment: Deputy Speaker

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Islamabad,  (Parliament Times) : National Assembly Deputy Speaker Qasim Khan Suri, while assuring the All Pakistan Business Forum of his full support, stated that the government was striving hard for economic betterment of the country and soon the economic progress would be witnessed.

He said this while talking to a delegation of the All Pakistan Business Forum, who called on him here in his office in the lead of its president Syed Maaz Mahmood. The meeting was also attended by Khurram Niaz Khan, Secretary General and Ilyas Khalil. On this occasion, APBF President Syed Maaz Mahmood apprised him of APBF’s upcoming business moot being held to promote country’s soft image and invited him.

Talking to the delegation, the Deputy Speaker emphasized that revival of economy is the top priority of the government. He added the business community has an important role to play in this regard and underscored that government is taking steps to ensure business and investment friendly environment in the country.

Qasim Khan Suri stated that Pakistan has faced numerous challenges during past few years due to which business community has also suffered a lot. He appreciated the services of the APBF towards the development of the country and hoped that it would continue to play proactive role in this regard.

Qasim Khan Suri suggested the business team to participate in the standing committees of the parliament on trade, finance and economy.

He assured them that the government would listen to the businesspersons and work hand in hand with them to further the business activities in the country. The government has also ensured continuation of business activities during the COVID-19 pandemic, which is the sign of the commitment the government for the assistance of the business community of the country. He said the support and contribution of the business community to fight coronavirus enabled the government to control the disease.

The APBF delegation apprised the deputy speaker regarding its functioning and offered some recommendations and suggestions for improving the economic structure and business environment in the country.

APBF President Syd Maaz Mahmood said that the Forum is planning to organize a conference to promote soft image of Pakistan’s economy on national and international forums. He said that the APBF understands that government is fully utilizing all its possible resources to revive the economy and businesses in this time of post-pandemic economic slowdown and appreciates the efforts of the government in curtailing the current account deficit from 20 billion dollars to a surplus level, besides reducing cost of production by announcing cut in power tariff for the SMEs.

Syed Maaz Mahmood said the government has taken various steps to mitigate the impact of corona virus on economic growth. Since the onset of pandemic-related economic pressure, reducing policy rate by the central bank, allowing one-year extension in principal payments along with rescheduling and restructuring of loans without affecting the credit history of borrowers. He observed that the demand was contained owing to corona pandemic globally which would now pick up after the two years of slowdown.

He said the APBF is ready to work closely with the government to resolve all industrial issues for further ease of doing business and to enhance exports and revive growth momentum.

However, he warned that there was great potential for exports of Pakistan goods which are not being utilized. He urged the government that the focus of its new policies should be to offer long-term predictable incentives for investors and promote exports from the country.

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