KARACHI: The Federation of Pakistan Chamber of Commerce has announced the establishment of a National Economic Think Tank while undertaking to improve the country’s economy.
Former Caretaker Commerce Minister Gohar Ejaz, along with United Business Group Head SM Tanveer and FPCCI Senior Vice President Saqib Fayaz Magu, while addressing a press conference, said that former Caretaker Prime Minister Anwar Haq Kakar, President of National Economic Think Tank, Former Caretaker Finance Minister Shamshad Akhtar will be the Chief Executive and Bashir Jan Muhammad will be the Chairman.
Gohar Ejaz said that due to the discontinuity of policies, the economy is facing challenges, according to Vision 2030, exports should be increased by 100 billion dollars with an annual growth of 10%. The economic think tank has 40 experts.
He said that 11 years ago our exports were 23 billion dollars and in 2023 it will be 27 and a half billion dollars. If the exports increase by 10% annually, then the exports would reach 60 billion dollars in 10 years.
SM Tanveer said that the country’s economy has to be taken forward at this time, hopefully the issues related to IPPs will be resolved this month, but we need electricity at Rs 25 per unit. Former Caretaker Finance Minister Shamshad Akhtar said that our aim is to have a body that will identify the country’s problems independently, which will include people from all sectors.
The best policies of different countries will be analyzed. There should not be too much intervention of the state, there should be a public-private partnership. Such policies have to be formulated to bring capital into the country. He said that the interest rate is decreasing due to the improvement in the economic scenario. The world does not run on subsidies alone, we will turn to incentives instead of subsidies.
Prominent industrialist Bashir Jan Mohammad said that Gohar Ejaz is waging Jihad on the issue of electricity. The biggest problem facing the trade and industry sector in Pakistan is the high cost of electricity. We have to see where we failed.
Meanwhile, Gohar Ejaz said that we are among the 10 most populous countries, but economically, we are below the 50th rank. My dream is to make Pakistan the 5th largest economic power in the world. He expressed these views while addressing the 31st foundation day ceremony of Comex College in Karachi. He said that we have not paid the right of Pakistan, our generation has not paid the right of Pakistan. We are forming a board to formulate the country’s policy and announce Dr. Shamshad Akhtar as a member of this board.
He said that 8 people dreamed with my father, then this college came into being. Now we dream and make Karachi the best university for which I announce to give one billion rupees. Government’s job is not to do business. Yes, so many loans Pakistan International Airlines has ended, on the occasion of the 31st foundation day of the college, former provincial minister SM Tanveer, former governor of State Bank Shamshad Akhtar, chairman of Arif Habib Group, Arif Habib, former president FPCI Daru Khan and People belonging to Alaoah Business Community of Ahmed Chinoy specially participated.
