FPCCI proposes ‘Charter of Economy’ for growth

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday proposed the charter of economy for sustainable growth, development and equality in the country, a statement said.

FPCCI acting president Khawaja Shahzeb Akram said that the non-political, inclusive, sustainable and legally-binding charter should encompass all sectors of the economy and all segments of the society.

The charter has been prepared by FPCCI with a high-degree of diligence, meticulous efforts, attention-to-detail, studying best-practices from across the globe and a thorough input from the business community from all sectors and segments of the economy, he added.

FPCCI acting chief added that the aim of the charter is to protect the economy from any political or policymaking unpredictability; and, ensure provision of a business and economic environment where all investors, entrepreneurs, businessmen, traders and industrialists should feel confident and motivated to plan their businesses for the long-term.

Akram said that there should be no fear of a rollback in tax holidays or waivers, no strains of erratic new or ad hoc taxation; unfair regulatory regimes, bribes or corruption, unhealthy or uncompetitive governmental policies, ludicrously expensive utilities and no unstable political environs that destabilise the business sentiments.

A country should reward investors, inventors, entrepreneurs, Small and Medium Enterprises (SMEs), employment generation activities, exporters and foreign-exchange-earners and taxpayers who run the country through their services and contributions, he said.

All political parties should single-mindedly support FPCCI’s proposal to have a charter of economy in the supreme national interest and to save the economy of Pakistan from the ever-yawning existential challenges, urging that all state institutions should also come together to support the all-out efforts for the national economy.

FPCCI head office coordinator Sultan Rehman emphasised that the FPCCI is the apex representative body of the entire business, trade and industrial communities of Pakistan, and it has the mandate, capability and experience to bring them all together to sit with all the stakeholders of the state to express their full support towards the proposed charter.