ISLAMABAD  -  Nasir Mansoor Qureshi, president of Islamabad Chamber of Commerce and Industry (ICCI), has called on the government to adopt a comprehensive, long-term economic strategy to address Pakistan’s pressing economic challenges and lay the groundwork for sustainable growth and prosperity.

In a statement on Monday, Qureshi emphasized the importance of political stability, urging leaders to set aside their differences and collaborate on a unified national strategy. Highlighting the severe impact of terrorism on the nation’s progress, he underscored the need to reassess foreign relations and prioritize trade expansion, particularly with neighboring countries.

Qureshi pointed out several bureaucratic challenges hindering business growth, including the Federal Board of Revenue’s (FBR) reintroduction of the affidavit requirement with Sales Tax Returns and the Capital Development Authority’s (CDA) unprecedented taxes, which burden the business community. Additionally, he noted that security issues persist as a significant concern, creating a challenging environment for businesses.

Qureshi urged the government to support small and medium enterprises (SMEs), citing their potential to generate employment, drive economic growth, and reduce poverty. Despite their essential role in the economy, he noted that SMEs face significant inefficiencies that hinder their full potential. Creating a supportive environment for SMEs, he argued, would unlock substantial economic opportunities.

The ICCI remains committed to working with all stakeholders to create a conducive business environment, address prevailing challenges, and help propel Pakistan’s economic growth, Qureshi concluded.