BoI chief admits govt failure to address business community issues

Federal Minister for the Board of Investment, Qaiser Ahmed Shaikh, expressed grave concerns about unresolved issues faced by the business community in Pakistan over the past two and a half years. During a reception hosted by the Businessmen Group (BMG) to unveil its 30 candidates for the elections, Shaikh, an elected representative of the business community in the National Assembly, claimed he had been unable to receive government backing to resolve these issues at the Cabinet level.

He had written numerous letters to Prime Minister Shehbaz Sharif over the years, requesting meetings to discuss the challenges faced by the business community.

Shaikh questioned the misuse of the 18th Amendment by provinces, asking how a federal minister could be accessible to the nation's business community if he was not able to meet the prime minister for two and a half years, as well as how the community could approach the Federal Board of Revenue (FBR) chairman. He highlighted the violation of the Public Procurement Regulatory Authority (PPRA) Rules at Port Qasim and informed the PM about this issue.

BMG Chairman Zubair Motiwala introduced the thirty candidates who would contest KCCI's elections on September 26, with office-bearers and committee members to be elected for a two-year term from 2026 to 2028. Motiwala emphasized that the group would continue to raise Karachi's voice, as the city, acting as Pakistan's economic hub, remained ignored by the power corridors. Despite this, Karachi continues to attract 55% of Pakistan's export earnings and generate 67% of the country's tax revenue.

BMG Vice Chairman Anjum Nisar pointed out that Pakistan's economy is in decline, with export earnings remaining stagnant for the past two decades, increasing marginally to $30 billion in FY26 compared to $26 billion 18 years ago.