PIBF for coordinated efforts to combat poverty, revive economy

LAHORE: Expressing grave concern over the recent World Bank report in which it was claimed that 48 per cent of the poor of the region lives in Pakistan, the Pak International Business Forum (PIBF) has stressed the need for coordinated efforts by the government, business community and other stakeholders to address poverty, improve economic conditions and create sustainable employment opportunities in Pakistan.

The forum, in statement on Monday, observed that rising living costs, limited employment opportunities and economic uncertainty have increased the difficulties faced by low-income households and vulnerable segments of society. It emphasised that sustainable economic growth requires policies that promote investment, strengthen businesses, encourage entrepreneurship and ensure that the benefits of economic development reach ordinary citizens.

PIBF Central President Dr Mushtaq Mangat and Central Secretary General Muhammad Ejaz Tanveer said that poverty alleviation could not be achieved through temporary relief measures alone, stressing the importance of long-term economic planning, effective implementation of development policies and a business-friendly environment capable of generating employment and expanding economic activity.

They stated that small and medium-sized enterprises play a significant role in supporting livelihoods, creating jobs and strengthening local markets. Facilitating these businesses through improved access to finance, simplified regulatory procedures and greater policy consistency could help stimulate economic activity and provide opportunities for people seeking employment.

The forum also underscored the importance of cooperation among government departments, educational institutions, business organisations and the private sector.

Copyright Business Recorder, 2026