Daily The Business

LCCI holds Ambassadors’ Dinner

Provision of conducive business environment top priority: Arif Alvi

Pakistan’s economy is well on the way to recover from transitory hiccups: LCCI

By M Jahangir Hayat

LAHORE: President of Pakistan Arif Alvi has said that ensuring conducive business environment is one of the top priorities of the government. He said that the government is also focusing on poverty alleviation, environmental protection, investment in human resources, SME sector and particularly agriculture.
He was speaking at the LCCI Ambassadors Dinner – 2019 arranged at the President’s House, Islamabad the other day. The LCCI President Almas Hyder presented the address of welcome while PM Advisor on Commerce Abdul Razak Dawood, LCCI Senior Vice President Khawaja Shahzad Nasir, Vice President Faheem-ur-Rehman Saigal, former Presidents, Executive Committee Members, Ambassadors & representatives of around 50 countries and high government officials attended this prestigious ceremony.
He said that for supremacy of law, business-friendly environment, peace, agriculture and industrial development, education, employment, economic growth and mutual understanding, we have to work hand in hand. If we face any difficulty in doing that, then we must bear keeping it in mind that our tomorrow will get better. In this regard, all the segments of society must cooperate with each other. I hope that like always, the private sector will play its role in a befitting manner.
The LCCI President Almas Hyder said that Ambassadors’ Dinner is primarily arranged to reinforce our working relations with the heads of foreign missions and also to strengthen our ties for establishing closer and deeper contacts with them.
He said that Pakistan has made new beginning under the leadership of Prime Minister Imran Khan. ‘Change’ is the buzz word and the entire system of governance is being revamped. Pakistan’s economy is well on the way to recover from transitory hiccups. By channeling the country’s resources into savings, investments and industrialisation, the present government will put Pakistan on the track of economic growth. Along with macroeconomic indicators, the situation of current account is also getting better.
He said that Pakistani companies are producing quality engineering goods, including home appliances like refrigerators, air conditioners, washing machines, electric motors and fans, etc. We have the capacity to export engineering goods at competitive prices to the markets of Africa and Middle East, etc. This is the new thrust of our government and the policies are being aligned.
“Similarly, both public and private sectors are collaborating with each other to improve country’s Doing Business ranking and Global Competitiveness Index. Government is taking all the necessary steps to improve its fiscal and monetary performance while introducing tariff rationalisation at a wide scale”, the LCCI President said and added that the situation on environment and human rights is also improving.
Pakistan has taken a number of corrective measures, both at planning and implementation stages, to combat environmental issues. In next couple of years, the environmental health and ecosystem will certainly improve as federal government has launched countrywide ‘Clean & Green Pakistan’ drive to tackle the challenges of rising pollution and global warming.
He said that the Government of Pakistan has taken a number of appreciable initiatives over the years to ensure compliance to 27 core conventions by enacting new laws and developing new institutions. The European Parliament has expressed satisfaction over the progress achieved by Pakistan in this connection. The China-Pakistan Economic Corridor (CPEC) has entered into next phase where there are enormous opportunities for local and foreign investors. Special Economic Zones (SEZs) are being established and Pakistan has sufficiently improved the required infrastructure.

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