Pakistan in the World Report
The Standing Committee on diplomatic relations of Federation of Pakistan Chambers of Commerce and Industry FPCCI called by the Convener Dr Afshan Malik met here at Islamabad Office on 11 Nov 2024. The members of the committee discussed the prospects of enhancing the exports of Pakistan by forging B2B contacts with the international community.
President of the Committee Mr. Karim Aziz Malik Chaired the meeting while Mr. Marcel Schroder, Country Economist, Asian Development Bank, Central and West Asia Department was invited as the guest of honor. Director Special Investment Facilitation Council SIFC, Nighat Ahsan was also present. Senior Office Bearer of FPCCI Islamabad Malik Sohail Hussain also attended the meeting.
Mr. Marcel Schroder shared that Asian Development Bank was preparing next 5 years program for Pakistan that will start from 2026 and will be completed in 2023. Responding to the questions of the members , he said, ” ADB is working with Pakistan on energy, power transmission infrastructure, transport sectors for last many years. 
The participants presented suggestions on how to overcome the tight situation of businesses and enhancing the exports to raise foreign currency for the country. They suggested the improvement of law and order and rationalization of electricity prices to attract the foreign investment as well as increase the volume of exports.
Senior members of FPCCI also joined the discussion and shared their views on the topic. They were of the view that in the present state of affairs , the industrialists are not able to complete the orders from abroad.
High rates of electricity and fuel gas have left them in the lurch. It is impossible to run the factories with high rates of energy. Moreover their productions can not compete in international markets for prices higher than the others due to inflated bills and the taxes imposed on manufacturing sector.
Mr. Tazeen Akhtar, Editor Diplomatic International Journal “Pakistan in the World” also expressed his opinion as an expert on foreign relations and domestic politics. He noted Political instability/ polarization, Social anxiety due to destabilized market/ indifference of authorities to the miseries of the public, sky rocketing prices, deteriorating buying power of the public, Law & Order, Terrorism, Lack of Digitization with restrictions on Internet, Road blockades in the name of security as key elements for economic crisis, financial decline, closure and shifting of the industry to other countries.
He questioned what our policy makers want to do actually? Do they need increase in exports? If yes! why they are doing everything against the foreign direct investments or promotion of exports? He noted that we need to first clear our minds on DOs and DONTs then try to attract the world to work with us.
Pakistan in the World – Aug / Sep 2024
Mr. Tazeen Akhtar said that it happened in Pakistan only that military officials are working on attracting the FDI. He raised question on the performance of SIFC during last one year since when it was established. He referred to the statements of Minister Planning and Minister Finance in which they mentioned that Pakistan needs USD 70 Billion in next 2 years for payments of foreign loans and no country is ready to deposit here or roll over the loans. He asked the members what you can do in this state of the state?
He noted that Pakistan failed in exploiting its so called great connectivity potential as it is most often said to be the regional hub. He asked which neighboring country is trading with Pakistan? India is banned, Afghanistan is mainly transit only, Iran is smuggling actually with the support of the officials. We have trade with China only but that is not in our favor. We import approximately USD 17 Billion from China while our exports are not more than USD 2 Billion. How a country can increase exports with no trade with neighbors?
Director SIFC, Ms Nighat Ahsan apprised the members about facilities provided at SIFC for the investors and entrepreneurs. She said SIFC is providing everything required to start a business or investment in Pakistan under one roof. She expressed her resolve that SIFC will continue working hard for the betterment of the economy.
Some members mentioned real estate/ construction and tourism as promising sectors in which the foreign currency income can be generated for the country. They suggested B2B engagements and exhibitions of Pakistani products in the countries that can be potential markets in the future.
The members unanimously urged the policy makers to get engaged with the business leaders to see the things in their true perspective and take necessary measures for the sake of the state before it is too late.
Pakistan in the World – October 2024
