Muhammad Saleem

Collaboration between the organisations like Faisalabad Chamber of Commerce and Industry (FCCI) and Special Investment Facilitation Council (SIFC) can help boost regional and national economic development. FCCI President Rehan Naseem said that all-out efforts were being made by the chamber to resolve the issues faced by the business community. “We need investment and jobs to tackle persistent unemployment.” He told WealthPK that a couple of days ago, SIFC Secretary Jamil Ahmad Qureshi visited the FCCI, where they discussed trade-related issues.

“The SIFC secretary assured the FCCI members that federal and provincial governments were committed to ensuring a conducive environment for local and foreign investors,” Naseem said. He added that the SIFC secretary also asked the FCCI to identify the issues hindering new investment, along with suggesting viable solutions. He stressed that investors required reliable business data to devise future strategies with a view to enhancing exports.

Sohail Ahmed, an industrialist, told WealthPK that Pakistan lagged behind in technology adoption as it was transforming businesses. “To achieve robust development, Pakistan must take a leaf from the success stories of our neighbouring countries.” He pointed out that individuals alone cannot carry out research on a large scale as it requires the assistance of institutions like SIFC. “State institutions can help investors and businesses speedily adapt to latest technology,” he said. Ahmed criticised the people at the helm for failing to put related policies into practice.

Besides, he regretted that real stakeholders were often excluded from discussions during the policymaking process. He said it's laudable that SIFC was listening to the business community’s concerns. “Collaboration between SIFC and FCCI is crucial because the latter knows well the local business needs and the former is there to facilitate investments,” he said, By joining hands and sharing knowledge, the two organisations can help improve infrastructure, create more jobs, and make the economy stronger, he added.

Rizwan Ahmed, a textile exporter, talking to WealthPK said FCCI had strong ties with local business communities like textile factory owners, food producers, and machinery manufacturers and it understood their challenges, such as high energy costs and difficulties in securing loans for expansion. “If SIFC wants to bring foreign investors into Pakistan, it can do so by ensuring a business-friendly environment. SIFC can confidently rely on data provided by the trade bodies like FCCI,” he added.

Rizwan said that bureaucrats often confined themselves to their offices rather than visiting the field to ascertain the facts. He argued that without knowing the ground realities, policymakers cannot devise meaningful policies. He noted that the government in collaboration with the local business community can attract more foreign investors to Faisalabad, where Chinese entrepreneurs were already thriving under the China-Pakistan Economic Corridor.

Credit: INP-WealthPk