KARACHI: Chairman Businessmen Group (BMG) Zubair Motiwala and President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Rehan Hanif have reaffirmed the business community’s unwavering faith in Pakistan and expressed confidence that the country, through unity, economic discipline, structural reforms and a stronger public-private partnership, can emerge as a more prosperous, competitive and resilient economy.
KCCI leadership said that Independence Day was not merely an occasion to commemorate the historic achievement of August 14, 1947, but also an opportunity to renew the national commitment to building a Pakistan that is economically strong, self-reliant, socially secure and capable of providing greater opportunities to its people.
“Pakistan has never been short of potential.
What we need is the collective resolve, consistency of policy and an enabling business environment to convert this potential into sustainable economic growth, employment and prosperity”, they said.
KCCI leadership also welcomed the Makkah joint defence agreement signed by Pakistan, Saudi Arabia and Türkiye, terming it a landmark development that reflects Pakistan’s growing strategic relevance and its trusted role in promoting regional peace, stability and collective security.
The leadership noted that this development comes against the backdrop of several positive indicators of Pakistan’s improving international standing, including the country’s recent rise to 101st position in the 2026 Henley Passport Index, up from 103rd in 2025.
They noted with optimism that Pakistan’s economy has demonstrated encouraging signs of recovery and resilience.
According to the latest official national accounts, the country’s GDP grew by 3.7 percent during FY2025-26.
The leadership observed that these developments, coupled with improving macroeconomic stability, provide a foundation upon which stronger and more sustainable growth can be built.
KCCI leadership also appreciated the invaluable contribution of overseas Pakistanis, noting that workers’ remittances reached US$40.2 billion in calendar year 2025, compared with US$34.7 billion in 2024.
During July–May FY2025-26 alone, remittances stood at US$38.1 billion, demonstrating the continuing confidence and commitment of Pakistanis abroad towards their homeland.
Zubair Motiwala and Rehan Hanif said that Pakistan’s economic journey was also benefiting from improved macroeconomic stability.
The International Monetary Fund has acknowledged that continued policy implementation has supported economic recovery, strengthened confidence and enhanced resilience, while reserve rebuilding has exceeded earlier projections.
They also welcomed the recent improvement in Pakistan’s sovereign credit standing, with S&P Global upgrading the country’s long-term sovereign rating from B- to B, citing progress in reforms, institutional stability and fiscal consolidation.
They termed this development encouraging for Pakistan’s efforts to regain greater access to international capital markets and attract investment.
The KCCI leadership emphasized that these positive indicators should not lead to complacency.
Rather, they should provide the confidence and policy space necessary to undertake the deeper structural reforms required to place Pakistan on a sustained high-growth trajectory.
They stressed that the next phase of Pakistan’s economic development must focus on export-led growth, industrialization, investment, productivity enhancement, energy-sector reforms, agricultural modernization, human capital development, technological advancement, infrastructure improvement and broadening of the formal economy and tax base.
“Macroeconomic stabilization is an important achievement, but stabilization must now be transformed into sustainable growth.
Pakistan needs policies that encourage investment, reward entrepreneurship, reduce the cost of doing business, promote industrial expansion and enable exporters to compete effectively in international markets,” they said.
They particularly urged the government to strengthen consultation with the private sector before introducing major economic, taxation, trade and regulatory measures.
“The private sector must be treated as a partner in nation-building. The government creates the policy environment, while businesses create investment, production, exports, employment and tax revenues. A strong and institutionalized public-private partnership can unlock Pakistan’s economic potential far more rapidly,” they maintained.
The KCCI leadership also paid tribute to the sacrifices of the founders of Pakistan, the armed forces, law-enforcement agencies, public servants, workers, entrepreneurs and citizens who have contributed to the country’s progress and security over the decades.
Zubair Motiwala and Rehan Hanif called upon all segments of society to rise above differences and work collectively for national economic progress, saying that political and economic stability, institutional continuity, rule of law and consistent policies are indispensable for Pakistan to realize its full potential.
They urged the government, political leadership, business community, professionals, academia, civil society and the younger generation to make economic development a shared national mission.
Copyright Business Recorder, 2026