KARACHI: The loans and incentives taken by the governments from the brotherly countries seem to have never been utilized for the improvement of infrastructure and economic prosperity, said Governor Sindh Muhammad Kamran Khan Tessori, addressing business community at a dinner hosted by Khalid Tawab Former senior vice President FPCCI and Honorary Consul General of Mozambique.
Tessori further said that the business community is the backbone of our country and they are our real heroes who are facing the worst challenges.
He further said that the other developing countries like India and Bangladesh have gained economic prosperity through their investment policies and export prospects.
Their foreign exchange reserves are very high while Pakistan takes loan to pay off its debts which is a dilemma. Pakistan needs more than 90 billion dollars while we are still asking for loans to pay off our debts, he added.
Khalid Tawab on the occasion and highlighted the problems being faced by the business community particularly SME and cottage sectors which are at the verge of collapse. He proposed that Pakistan should be given the same incentive of zero rating on its export to UAE as given to India. He said that people of Pakistan always consider UAE as their second home.
President of Karachi CCI Tariq Yusuf and Zubair Tufail President UBG also spoke and expressed their concern on continuous outflow of foreign investment and young talent.
Copyright Business Recorder, 2023
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