ISLAMABAD: President Arif Alvi on Monday acknowledged that a conducive working environment is essential to retain skilled manpower and control brain drain from the country.

Addressing the All Pakistan Chambers Presi­dents Conclave (APCPC) 2020 event organised by the Islamabad Chamber of Commerce and Industry, the president said, “Establishing a conducive environment is the responsibility of the government. The business community has to provide job opportunities for the youth.”

He noted that the current economic difficulties were the result of past wrongs and FATF issue while adding that things would start to change from next month. He expressed hope that Pakistan will get out of the FATF grey list. These restrictions were added to the flow of financial difficulties as a result of past wrongs, he noted.

President Alvi acknowledged that interest rates were high and causing difficulties for the business community. “Due to positive measures taken by the government, interest rate and inflation would hopefully start coming down from February. However it is essential to control the inflation,” he added.

He pointed out that foreign investors will never take confidence in the country if the local business community was shy to take a lead while urging for maximum participation of women entrepreneurs in the economic development of country.

President FPCCI Mian Anjum Nisar said high interest rate was a major hurdle for the business community and investors and urged the government to address this issue on priority.

During the last five years, Pakistan faced deindustrialisation. The government should focus on saving the existing industry from be­­coming sick instead of reviving sick units, he added.

FPCCI in cooperation with other chambers would support the government in economic revival of the country.

President ICCI Muham­­mad Ahmed Waheed said the purpose of organising APCPC 2020 was to bring the leadership of entire business community at one platform to discuss major issues.

“The government should formulate economic policies in consultation with business leaders of the country and should give due consideration to the proposals and recommendations that would come out of APCPC 2020,” he said.

Published in Dawn, January 22nd, 2020