ISLAMABAD - Islamabad Chamber of Commerce and Industry (ICCI) President Sheikh Amir Waheed has shown concerns over the World Bank’s (WB) report about Pakistan’s deteriorating macroeconomic discipline, which has created vulnerabilities in the balance of payments.

He called upon the government to take urgent measures for drastic reforms in order to put the country on the path of sustainable economic growth. He stated this while talking to former senator Syed Zafar Ali Shah during his visit to ICCI. MQM MNA Abdul Rasheed Godil, former MNA Haji Pervaiz, FPCCI former president Abdul Rauf Alam, MPA Yaseen Lari, ABAD former senior vice chairman Arif Jeeva, FPCCI’s Ahmed Chennai, Khawaja Ali and Muzzamil Sabri were also present at the occasion.

The ICCI president said that the country’s exports were on the decline for the last many years and improving the external balance depended upon the revival in exports. He urged that the government should address all major issues of exporters including stuck up refunds on priority basis in order to turn around the dwindling exports. He emphasized that senators and MNAs should play role in making business-friendly policies that were necessary for reviving the economy.

He said, “Due to unfavourable conditions for local exporters, our regional competitors were grabbing Pakistan’s share in international export market which should be a cause of concerns for the policymakers.” He emphasized that the government should pay priority attention to provide needed support to the exporters.

On the occasion, Syed Zafar Ali Shah said that business community was making vital contribution in the economic development of the country and assured that he would play role for highlighting their key issues at all relevant forums for urgent attention of the government. FPCCI former president Abdul Rauf said, “Business community was facing multiple problems due to which our economy could not achieve growth up to its real potential.” He stressed that the government should focus on creating enabling environment for business activities in consultation with business leaders of the country that would pave way for achieving long-term economic growth of the country.

ICCI Senior Vice President Muhammad Naveed and Vice President Nisar Ahmed Mirza said that most of the issues of local trade and industry were related to CDA and FBR. They urged that both organisations should focus on resolving key issues of business community in consultation with ICCI in order to facilitate growth of commercial activities.