ISLAMABAD: President Dr Arif Alvi Friday said the business community should utilise the youth bulge of Pakistan for producing high-end products for domestic consumption as well as for exports.
“The business community should explore new opportunities, adopt innovative and creative business techniques, utilise e-commerce platforms and consolidate their position in the existing market by maintaining quality and competitiveness as compared to their competitors. Pakistan needed to take all possible measures to create a balance between its imports and exports,” the president expressed these views while addressing the 45th Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Exports Awards ceremony at Aiwan-e-Sadr.
He said that Pakistan had improved its position in the Ease of Doing Business Index significantly during the last few years. He urged the business community to fully benefit from the incentives offered by the government for the promotion of business, trade and commerce in the country. He added that Pakistan offered huge attractions for foreign direct investment.
He said that dams were important for water storage but solar energy was an easy way to overcome the energy crisis. He underscored the need for adopting technologies and vertical farming in the agriculture sector.
He said that Pakistan’s economy was facing a difficult time and had been affected by the recent global warming-induced floods, resulting in enormous loss of lives and damage to the country’s infrastructure. He stated that Pakistan had incurred a huge loss of billions of dollars and expressed the hope that the nation with its proven courage, determination and resilience would overcome this challenge and would emerge better and stronger. He said that Pakistan had come out of the Covid-19 crisis with its wise policies, similarly, it would also overcome the present crisis. He urged the business community to help their flood-affected brethren with open hearts.
The president said that trained and skilled human resources could help introduce innovation, diversification and competitiveness in their business processes, besides helping create an identity for Pakistani brands. He also called upon the business community to promote the made-in-Pakistan culture to reduce our reliance on imports from other countries. He said that by creating our own brands and improving their quality and standards, we could capture local markets through local products, which would help in import substitution thus saving precious foreign exchange. He called upon the business community to employ more women in their business as no country could embark on the path of development without employing 50 percent of its population.
He also congratulated the winners of the awards and said that this honour, which had been bestowed on them, would further encourage and motivate other businessmen, traders and investors, to improve their skills and work hard to win this coveted award next time.
He also congratulated the organisers of the FPCCI Export Awards Ceremony for organising such an excellent event.
President of the FPCCI, Irfan Iqbal Sheikh said that despite the challenges, Pakistan’s exports had reached 34.7 billion dollars. He also said that the business community was making all possible efforts for the rehabilitation of flood-affected people. Anjum Nisar and Senator Haji Ghulam Ali also spoke on the occasion.
Copyright Business Recorder, 2022