KARACHI, Dec 22: Chairman Senate Mohammedmian Soomro appreciating the signing of the Global Compact on Thursday said it would help build social and environmental framework to support and ensure the continuation of open and free markets in the world.

Speaking at the concluding session of the Global Compact, he said that adherence to the principles of the Global Compact, the employers’ guide, would ensure people to have a chance to share the benefits of the new global economy.

Mr Soomro said the launching of Global Compact in Pakistan would ensure better security, progress, respect of human and labour rights, and also fulfil the need of quality and standard production of goods and services.

He further said that the government would extent all sort of support to businessmen and entrepreneurs who were looking for better infrastructure and curtailment in the cost of doing business.

He said that there could be improvement in the judicial system under the Global Compact to improve labour laws and security which may help to enhance productivity and human skill. “With the recommendation and suggestions of the business community such matters will be given final shape for better social and environments at work places and industrial establishments.”

The common goal and objective, he said, was to create employment and health facilities, poverty alleviation on providing jobs to masses.

The launching ceremony of the Global Compact was jointly organized by Employers’ Federation of Pakistan (EFP) and International Labour Organization (ILO) and on the conclusion session 10 principles of the Global Compact were adopted through declaration.

Initially around 50 members of EFP volunteered to subscribe to the principles of Global Compact showing their voluntary will to embrace these principles and to enact them gradually in their operational process and business practices thus playing their pioneering role in promoting corporate social responsibility.

Speaking in his inaugural address Julian Andragg, Consul General of Switzerland, said that during his three years experience in Karachi he had kept close contact with business community and found them competent and of immense leadership qualities.

“Institutions are important but individual makes the difference in an organization.” He further said that Pakistan played positive and important role in the meetings of ILO at Geneva.

Dongli Li, director ILO, Islamabad, said on the occasion that the ILO was promoting a working environment at the work places where men and women could do their job in a safe, free and fair manner. He said that today’s declaration to adhere to the 10 principles of the Global Compact was indicative of taking Pakistan ahead not only in the global corporate community, but in the larger comity of nations.

Ashraf W Tabani, president EFP, in his welcome address said that the EFP was mustering the support of the employers and the business community in the country in its pursuit of industrial peace and harmony, poverty reduction, employment generation and environment conducive for investment, economic growth in the development of the country.