Businesses being neglected in policymaking: Sindh governor

Sindh Governor Kamran Tessori has said that the trade and industry is the backbone of the economy; but, still being neglected in policymaking and dealt unfairly, as a result.

No economic, industrial, trade, fiscal or monetary policy should be formulated without consultation with the business community, he said, adding that for this purpose, he has put forward the proposal that the prime minister should establish a hotline with the FPCCI president and his office. He said he had already set up a hotline with the FPCCI.

According to Tessori, the one month’s experience shows him that the position of a provincial governor is not all that ceremonial; and, the governor can play a healthy, positive and fruitful role in becoming a bridge between the business community and the provincial and federal governments.

He also reiterated his previous demand that the FPCCI president should be given the status of a minister of state and informed the audience that he had already written a letter to the federal government.

Sheikh said that, while the entire country has suffered due to the recent floods, Sindh has suffered the most — and, it becomes all the more alarming due to the fact that Sindh produces 42 per cent of the national rice production; 31 per cent of sugarcane and 23 per cent of cotton.

This phenomenon will further aggravate the national food security concerns; negatively affecting the performance of the agricultural sector and cause further shortages of cotton in the country, he added.

Sheikh highlighted that the FPCCI is in the process to prepare a charter of economy and will approach all the stakeholders and political parties to sign it — making it mandatory to have consistent economic policies for a period of 15-20 years.

There is no other way than the continuity of sound economic policies and no foreign direct investment (FDI), private sector investment and any significant international joint ventures will come to Pakistan; if our economic policies continue to be rickety.— Staff Correspondent

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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh presenting the official crest to Sindh Governor Kamran Tessori. FPCCI Senior Vice President Suleman Chawla; vice presidents Shabbir Mansha and Engr M A Jabbar; Akhtar Khan Tessori and Khurram Tariq Sayeed were also present on the occasion.

Khushhali Microfinance Bank repairs Wacha-Wana Bridge

The Khushhali Microfinance Bank Limited (KMBL) has supported major repair work of the Wacha-Wana suspension bridge in Tirah Valley to recommence commuting and restore transportation infrastructure in the Khyber tribal district, a statement said.

Elevating the quality of life is the focal point of the bank’s social initiatives and this award-winning financial institution contributes generously towards the community welfare and sustainability.

In a vastly underdeveloped region with impoverished local communities that are deprived of the basic life amenities, Khushhali Microfinance Bank has taken it upon itself to create easy access in the devastated area. Despite numerous challenges, the bank was able to establish multiple branches in other remote areas, which are not only integrated with the mainstream financial sector of Pakistan but also leverage the technological stack to tap into the potential of the remote dwellers and provide broader financial inclusion.

Through concerted efforts to improve the lives and livelihoods of the locals, the Khushhali Microfinance Bank is committed to launching more and diverse progressive initiatives in the coming years to help serve these communities better and drive sustainable economic growth. Over the past decades, nearly 30,000 residents have been impacted by geopolitical instability and militancy in Tirah Valley. Thousands of families lost their homes and livelihoods before peace and stability were restored in the valley through the Pakistan Army’s concerted efforts.

Witnessing the daily struggles of the locals, the bank decided to step in and provide utility to the people it serves by repairing the suspension bridge.

By restoring the Wacha-Wana suspension bridge, this remote region’s accessibility will be reinstated so that the socioeconomic rehabilitation of its underserved community can be facilitated. To ensure the safe arrival of the displaced residents after over 12 years, the Khushhali Microfinance Bank, in conjunction with the Pakistan Army, is systematically effectuating rehabilitation work in the Khyber tribal district.

These recovery efforts entail fixing roads and key infrastructure to reconstruct the previously conflict-torn region.

Khushhali Microfinance Bank President and Chief Executive Officer (CEO) Ghalib Nishtar said: “We are pursuing a vision to accelerate the socioeconomic growth in Pakistan. Restructuring this important bridge in Tirah Valley is also a part of our resourceful efforts for the wellbeing of the masses.”— Staff Correspondent