Government should only act as regulator and not engage in business: Gillani M Haris

ISLAMABAD: Chairman Senate Syed Yousuf Raza Gillani, addressing the ‘All Pakistan Chambers Presidents Conference’ on Wednesday, asserted that the government should not engage in business activities. Gillani emphasized that according to the ‘right man for the right job’ principle, the government should act as a regulator, while business activities should be left to businessmen.

Gillani highlighted the country’s economic challenges but noted that economic indicators have started to show positive signs due to the government’s efforts. He also stressed the importance of political stability for facilitating business operations in the country.

Minister for Planning, Development and Special Initiatives Ahsan Iqbal called for all stakeholders to work together to address the current economic crisis. “We need to ensure policy continuity and maintain law and order,” he said, adding that China is eager to commence the upgraded Phase-2 of the China-Pakistan Economic Corridor (CPEC), which includes five corridors: Growth, Livelihood, Information Technology, Green Economy, and Regional Development. Iqbal emphasized that the private sectors of both countries must collaborate to capitalize on this opportunity.

Federal Minister for Maritime Affairs Qaisar A Sheikh urged the business community to focus on the blue economy, which has significant potential for the country’s welfare. He assured that all issues faced by the business community will be resolved to ease business operations.

Ahsan Zafar Bakhtawari, President of the Islamabad Chamber of Commerce and Industry (ICCI), emphasized that the business community is a major stakeholder in the country’s economy and should be treated as a partner by the government. He called for economic decisions to be made in consultation with the business community for sustainable development. Bakhtawari also highlighted the importance of regional trade and proposed that business leaders be appointed as trade counselors in foreign missions with specific targets.

Bakhtawari informed the participants about major ICCI projects, including the establishment of an Expo Centre and an Industrial Zone to promote business and economic growth. He urged the government to widen the tax net rather than burdening existing taxpayers, expressing hope that the All Pakistan Chambers Presidents Conference would help address the business community’s issues and provide a level playing field for business activities.

Former Provincial Minister for Industries, Commerce, and Investment S.M. Tanvir noted that Pakistan is rich in natural and mineral resources, which should be tapped for the country’s prosperity. He urged the government to focus on these areas for national betterment.

President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Atif Ikram Shaikh stressed that for sustainable economic development, the government must create an investment-friendly environment by focusing on alternative energy resources and innovation.

Chairman Founder Group Khalid Iqbal Malik commended the role of the business community in national development and urged the government to introduce incentives for businesses to help overcome the economic crisis.

Former President of ICCI Zafar Bakhtawari emphasized the importance of trade relationships with neighboring countries. The conference was also addressed by President of Lahore Chamber of Commerce and Industry Kashif Anwar, President of Karachi Chamber of Commerce and Industry Iftikhar Ahmed Sheikh, and other business leaders.

Senior Vice President of ICCI Faad Waheed and Vice President Eng. Azhar ul Islam also addressed various sessions of the conference, offering valuable suggestions for economic improvement.