ISLAMABAD: The government should have no business doing business, Senate Chairman Syed Yousaf Raza Gillani said in an address to a conference on Wednesday.

Over 70 presidents of different chambers of commerce and industry, ambassadors and diplomats attended the gathering.

In keeping with the “right man right job principle”, the government must play the role of a regulator instead of running businesses and leaving business to businessmen, the Senate chairman said.

Mr Gilani claimed that economic indicators had started picking up over the last few months “thanks to the new government’s business-friendly decisions”. He described political stability as unavoidable for ease of doing business.

Senate chairman stresses limiting govt to regulatory role, letting private sector run businesses

Ahsan Iqbal, the Minister for Planning, Development and Special Initiatives, said it was high time that all stakeholders work together to pull the country out of the economic mess.

“We need to ensure continuity of policies and maintain law and order,” he said, adding that China was keen to start an upgraded version of the CPEC.

“This comprises Corridors for growth, livelihood, information technology, green economy and regional development. To benefit from this opportunity, the private sectors of both countries have to work together,” Mr Iqbal added.

Federal Minister for Maritime Affairs Qaisar Sheikh called upon the business community to pay attention to the blue economy as it has a vast potential to speed up development. He assured the business community the government was committed to solving their problems in order to spur growth.

Ahsan Zafar Bakhtawari, who heads the Islamabad Chamber of Commerce and Industry, said the business community was a major stakeholder in the economy, urging the government to “act like a partner” and make all decisions in consultation with its representatives.

Atif Ikram Shaikh, president of the Federation of Pakistan Chambers of Commerce and Industry, said in order to ensure sustainable economic development, the government must provide an investment-friendly atmosphere by focusing on alternative energy resources and innovation.

Suggestions made by other speakers included measures for encouraging regional trade and posting business leaders as trade counsellors in foreign missions.

Former provincial minister S.M. Tanvir, Lahore Chamber of Commerce and Industry chief Kashif Anwar and Iftikhar Ahmed Sheikh, president of the Karachi Chamber of Commerce and Industry, also spoke on the occasion.

Published in Dawn, June 27th, 2024