Daily Times

Federation Pakistan Chamber of Commerce and Industry (FPCCI), business Chamber of commerce on Monday endorsed government’s five years, ‘Uraan Pakistan’ Initiative for sustainable economic development in the country.

Meanwhile, talking to APP, President FPCCI, Atif Ikram Sheikh said the business community proclaims full support for the government’s five-year economic plan “Uraan Pakistan” and five-year plan is a significant step towards providing a strong economic foundation for an inclusive economy. President FPCCI said the solution to Pakistan’s economic challenges is to exports led growth, for which special attention has been paid in this program, and a large part of the country’s exports consists of textile products, special attention also needs to be paid to the Information Technology (IT) sector. After diversification of trade in the country, now there is a need to focus on traditional as well as non-traditional products to increase the country’s exports said that an 11 percent increase in exports, 34 percent increase in remittances and 34 percent increase in IT exports is the hallmark of the economic development. He hailed the current economic recovery and said that a long-term reform agenda is required for the success of the ‘Uraan Pakistan’ plan and said the economy will develop only when the wheel of small, medium and large scale industry runs at full capacity.

Atif Ikram Sheikh said that sustainable economic growth is possible only when the prices of electricity and gas are competitive with other countries in the region.

Meanwhile welcoming the government five-year economic plan, ‘Uraan Pakistan’ Abdul Rehman Siddiqui, the acting President of the Islamabad Chamber of Commerce and Industry (ICCI), has acknowledged the potential of Prime Minister Shehbaz Sharif’s ambitious “Uraan Pakistan” initiative-a five-year national economic plan focusing on the 5Es (exports, e-Pakistan, environment, energy, equity, and empowerment)-to guide the country toward sustainable growth.

He further supported the Prime Minister’s emphasis on privatizing and outsourcing loss-making State-Owned Enterprises (SOEs) as essential measures to curb financial losses and improve efficiency in the public sector. Siddiqui called for the active involvement of business leadership, particularly Chambers of Commerce, in formulating economic policies to ensure that these policies are practical and viable. He also suggested assigning export tasks to foreign missions, particularly trade counselors, to effectively support Pakistan’s export goals.

Talking to APP,President of the Gujranwala Chamber of Commerce and Industry (GCCI), Rana Muhammad Siddique Khan hailed the five-year homegrown national economic Plan, “Uraan Pakistan” (2024-29) and said that this comprehensive plan will play significant role for sustainable economic development in the country.

The five-year homegrown national economic Plan, “Uraan Pakistan” (2024-29) was announced by the government to be a milestone in sustainable economic growth and termed it as a significant step for the restoration of the country’s economy, President GCCI said.

The President GCCI said that currently the country’s economy is facing major challenges and the business community of Gujranwala welcomes “Uraan Pakistan” and considers it pivotal for the country’s economic development. He said that this comprehensive five-year economic plan (2024-29) has three main pillars including the leading role of the Private sector, exports-led growth and managing the public debt, which was quite relevant for the restoration of the national economy. Meanwhile, praising the economic strategy evolved by the current economic team of the government, he said that now “We achieved economic stability and through the comprehensive economic road of” Uraan Pakistan” country’s economy to achieve sustainable economic growth also.”