Resolution of issues: Business community calls for setting up of ‘united front’

Leaders from the business community convened a meeting on Wednesday to propose the formation of a unified front, comprising representatives from major chambers of commerce and industry, aiming to advocate for the resolution of shared business and industrial issues. This suggestion was initially presented by Talat Mehmood, the President of the Karachi Chamber of Commerce and Industry (KCCI), during a gathering hosted by the Islamabad Chamber of Commerce and Industry (ICCI).

Mehmood contended that individual representation had not proven effective over the years, whereas a collective stance by prominent chambers would hold greater weight in addressing the concerns of the business community.

The meeting was attended by former ICCI presidents, executive members, and numerous representatives from the trade and export sectors. KCCI President Mehmood highlighted Pakistan's economic challenges, noting that the country's exports amounted to approximately USD 30 billion, while remittances exceeded USD 41 billion. He cautioned against excessive dependence on overseas remittances and urged the government to implement policies and incentives that would encourage overseas Pakistanis to invest in their homeland and enhance local economic activities.

Additionally, Mehmood proposed special facilitation for the business community, including separate arrangements at airports for traders and investors, and emphasized the importance of digitization and institutional reforms as instruments of facilitation, rather than sources of harassment.

ICCI President Mohammad Zikria Akbar Zia echoed the call for greater coordination among major chambers, stressing that collective efforts were crucial in tackling common business challenges and bolstering Pakistan's trade and industrial sectors. He advocated for improved access to bank financing, enhanced industrial infrastructure, a reduction in regulatory hurdles, and the elimination of unnecessary harassment of traders and industrialists.

Zia reiterated that the business community should be regarded as a vital partner in economic development.

Syed Jawad Kazmi, President of the Khyber Chamber of Commerce and Industry, pointed out the significant impact of the prolonged closure of the Torkham border on regional trade and industry, emphasizing the province's substantial export potential. Faiz Mohammad Faizi, former President of the Sarhad Chamber of Commerce and Industry, also stressed the necessity of reinforcing cooperation among leading chambers to adopt a cohesive approach in addressing business community issues.

Sheikh Tariq Sadiq, ICCI Founder Group Chairman, underscored the severe challenges faced by the business community, asserting that a unified voice from the business community is imperative to garner the attention of power corridors and resolve the issues at hand.

ICCI Senior Vice President Mohammad Ashfaq Hussain Chatha, who effectively moderated the session, outlined the ICCI's objectives for the welfare of the business community. Syed Umairuddin Hussain, an executive member of KCCI, also participated in the event.