Private Sector should be consulted for caretaker Government and political parties should discuss economic agenda

Islamabad, February 26, 2013 (PPI-OT): Sheikh Humayun Sayeed, Chairman FPCCI Standing Committee on Diplomatic Affairs and former Vice-President FPCCI emphasized upon the Government and Political parties to consult the Private Sector through its leaderships for the formation of new caretaker setup. He stated that private sector is now the engine of economic development.

He also informed that when the new Government of present regime was formed five years back it was assured that the private sector of the country will sit on the front seat to bring massive economic reforms and no doubt in-spite of ups and downs faced by the democratic Government, it has completed its tenure successfully following its reconciliation policy with equal importance of consultation with the Private Sector which could not have been possible without the strong will of the President Asif Ali Zardari.

Sheikh Humayun Sayeed also informed that private sector has key role in all the developed economies of the world. He told that 50-70 percent of the economic policies are being developed by private sector of USA, UK, Australia and other developed countries.

The only way can get the economy to grow sustainably is through a strong private sector so the government and the private sector need to develop strong coordination. The Political Parties in their own interest are required to discuss their economic agenda with the leadership of Private Sector.

He further stated that the private sector is the engine of economic growth – creating jobs, increasing trade, providing goods and services to the poor and generating tax revenue to fund basic public services such as health and education. As well as stimulating growth, new thinking within the private sector, shaped by the market, can also offer insights in to how to ensure better access to vital services or goods such as medicines or information, and basic need of day to day life of common man such as Energy, Water, Gas, and Food.

As the core of political and economic transformation in any developing country is the emergence of a strong private sector. The role of Government is to create an enabling business-friendly environment and this could be done only through private sector consultative policies and support.

Business Community of Pakistan has entire country representation through Chambers of Commerce; trade Associations, Industrialists, and socio-economic sector as well. Therefore, we strongly propose that Private Sector should be consulted for new caretaker Government with a mandate to the caretaker Government to ensure economic sustainability to avoid economic deterioration with a firm control over the performance of Macro-Economic indicators.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332

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