KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) acting president Khawaja Shahzeb Akram has proposed a non-political, inclusive, sustainable, and legally binding ‘Charter of Economy’ to forge an across-the-board contract and unflinching commitment towards economic growth, development and equality.
He said the charter should encompass all sectors of the economy and all segments of the society.
Khawaja Shahzeb Akram said that the draft of the Charter of Economy has been prepared by FPCCI with a high-degree of diligence, meticulous efforts, attention-to-detail, studying best-practices from across the globe and a thorough input from the business community from all sectors and segments of the economy.
He said that the aim of the charter is to protect the economy from any political or policymaking unpredictability; and ensure provision of a business and economic environment where all investors, entrepreneurs, businessmen, traders, and industrialists should feel confident and motivated to plan their businesses for the long-term.
There should be no fear of a rollback in tax holidays or waivers; no strains of erratic new or ad hoc taxation; no imposition of unfair regulatory regimes; no harassment, bribes, or corruption; no unhealthy or uncompetitive governmental policies; no ludicrously expensive utilities and no unstable political environs that destabilize the business sentiments.
He stated that a country should reward investors, inventors, entrepreneurs, SMEs, employment generation activities, exporters & foreign-exchange-earners and taxpayers who actually run the country through their services and contributions.
Khawaja Shahzeb Akram maintained that all political parties; whether in the government or opposition; should single-mindedly support FPCCI’s proposal to have a Charter of Economy in the supreme national interest and to save the economy of Pakistan from the ever-yawning existential challenges.
He added that all institutions of the state should also come together to support the all-out efforts for the rejuvenation of the national economy.
Khawaja Shahzeb Akram explained that the real job of the government and all its institutions is to provide an enabling environment for the businesses; cut costs of doing business and support ease of doing business.
Pakistan’s business community is resilient, capable, and experienced enough to take care of the rest; and produce enough business and economic activity to put Pakistan on a sustainable high-growth trajectory.
Sultan Rehman, Coordinator FPCCI Head Office, emphasized that FPCCI is the apex representative body of the entire business, trade, and industrial communities of Pakistan; and, it has the mandate, capability, and experience to bring them all together to sit with all the stakeholders of the state to express their full support towards the proposed Charter of Economy.
Copyright Business Recorder, 2022