KARACHI: Zubair Motiwala, Chairman of the Businessmen Group (BMG), emphasized that Pakistan's development hinges on industrialisation and entrepreneurship during an event organized by the Korangi Association of Trade and Industry (KATI).
Addressing the gathering, Motiwala stated that the country cannot advance without industrialization and that reducing production costs is essential for the nation to compete in global markets.
He spoke at a function held in connection with the upcoming Karachi Chamber elections, attended by prominent members of KATI and the business community, including KATI President Johar Qandhari, Deputy Pattern in Chief, Zubair Chhaya, Senior Vice President Nighat Awan, Vice President Muslim Mohammadi, Standing Committee Chairman Ehtshamuddin, Former President and Chairman Sheikh Umar Rehan, Farhan-ur-Rehman, Farrukh Mazhar, Masood Naqi, BMG Vice Chairman Anjum Nisar, Secretary AQ Khalil, Presidential candidate Javed Balwani, Zia-ul-Arifeen, Faisal Khalil Ahmed, Tanveer Bari and other senior figures.
Motiwala also criticized the current economic environment, describing it as one of "de-industrialization" and cautioning that limiting the export sector could hinder Pakistan's ability to increase exports.
He called for a comprehensive report comparing production costs in Pakistan to those in neighboring countries to identify areas where reductions could be made. Motiwala highlighted the government's export target of $15 billion for the coming year, with $7 billion designated for rice exports.
KATI President Johar Qandhari echoed Motiwala’s concerns, noting that Karachi’s industries face discrimination despite contributing significantly to the national economy. He stressed the importance of presenting the business community's proposals to the government, particularly under Motiwala's leadership, to address Karachi's deteriorating infrastructure and the lack of investment compared to other cities.
"Pakistan cannot achieve economic stability without focusing on Karachi," Qandhari warned.
Zubair Chhaya, BMG Deputy Patron-in-Chief, praised the longstanding relationship between KATI and the BMG, noting that collaborative efforts have led to success in resolving many of the business community's issues. He also highlighted the contribution of Karachi to the national economy, with the city accounting for 67% of exports and 55% of revenue despite the ongoing challenges.
Altaf Ghaffar, Acting President of the Karachi Chamber, urged unity among the business community to tackle the growing sense of inferiority. He expressed hope that the unified leadership of the business sector would soon find solutions to the problems facing Karachi's industries.
Copyright Business Recorder, 2024
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