ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) has geared up its efforts to develop a Charter of Economy in partnership with Sustainable Development Policy Institute (SDPI) and Center for International Private Enterprise (CIPE) that would be presented to the political parties for revival of economy. In a statement President ICCI Sheikh Amir Waheed said that though the economic growth of Pakistan has improved but as cautioned by the World Bank’s biannual report, the internal and external imbalances due to rising fiscal deficit could jeopardize the hard-earned economic growth and stability. He said the main reasons of these imbalances are decreasing exports and rising debt burden and urged the government for taking strong policy measures to facilitate the private sector in promoting exports.
He urged that government for focusing on revenue mobilization through broadening of tax net instead of borrowings as debt burden would pose many problems to the economy in future. He urged the government for taking drastic measures to improve export competitiveness to turn around the dwindling exports. ICCI head urged the government for taking private sector on board and make a new strategy in consultation with business community to steer the economy out of challenges and put it on on fast track development. He was of the view that effective economic reforms would also improve Pakistan’s ranking on Ease of Doing Business Index as well. Sheikh Amir Waheed said that the Charter of Economy shall help the political parties in setting manifestoes for the next general elections in light of the recommendations presented by the private sector of Pakistan to increase productivity, improve exports, mobilize more revenue and accelerate the economic growth of the country. Source: https://www.brecorder.com/2017/11/13/380722/icci-to-develop-a-charter-of-economy/