Mamnoon urges businessmen to keep an eye on emerging opportunities

RECORDER REPORT

KARACHI: President Mamnoon Hussain has urged the business community to keep an eye on the emerging opportunities in the world for a long term economic stability.

While, addressing the “6th FPCCI’s Achievement Award ceremony” held on Friday night at Governor House Karachi, he said that China Pakistan Economic Corridor (CPEC) is becoming the centre of attention for the entire world and creating a number of opportunities for Pakistani entrepreneurs. “There is need to formulate a comprehensive strategy to reap maximum benefit from the openings emerging opportunities in the region particularly from CEPC”, he added.

He said that with the efforts of the previous government, now the country has become self sufficient in energy, of which industrial sector has performed well during the last fiscal year. “The industrial sector, was growing at a fast pace due to practical steps taken by the government in the fields of energy and infrastructure sector”, he added.

President said that presently, the country is going through the election process and hopefully the new government would continue the process of economic development in the same way. Pakistan is one of the most favourable places for investment in the region because of attractive incentives and flexible investment policies; he said and added that the foreign investors could invest in Pakistan with a liberty to repatriate their 100 percent profits without any unnecessary impediment.

“Pakistan’s economy is gradually improving and will be world’s 18th largest economy by 2050, however, there is need to work hard to achieve this goal”, he added.

He said that government is fully committed to provide all necessary facilities to the industrial sector. Government is providing low interest rates financing facilities for the import of machinery and raw material to support the domestic industry, he added.

He also asked exporters and industrialist to make efforts for promotion of non-traditional and value added exports to earn the foreign exchange for the country.

He also hoped that the FPCCI would provide guidance to Pakistani businessmen, traders and industrialists to increase the exports of Pakistani products in these regions and attract the foreign investors to our country.

The ceremony was also attended by Governor Sindh Muhammad Zubair, Federal Commerce Minister Mian Misbah-ur-Rehman, President FPCCI Ghazanfar Bilour, Vice President Waheed Ahmed, Atif Ikram, SVP SAARC CCI Iftikhar Ali Malik, Khalid Tawab, a number of industrialist and traders.