Lahore, October 25, 2017 (PPI-OT): Pakistan’s ranking in ease of doing business can be improved through public-private partnership therefore government should take business community on board. In a statement, the LCCI President Malik Tahir Javed and Vice President Zeeshan Khalil said that country’s ranking should be improved to achieve the required economic goals. They said that it always remained a matter of concern for the economy. Ease of Doing Business in Pakistan averaged 112.78 from 2008 until 2016, reaching an all time high of 148 in 2015 and a record low of 85 in 2009.
The LCCI office-bearers said that the cost of doing business is hindering the growth of all sectors of economy whether it is manufacturing or agriculture. They said that Pakistani merchandise are best of the best in the world but fast losing their due place in the international market because of high input cost in Pakistan. They said that ease of doing business, generation of cheap electricity and good governance should be the corner stone of the new economic methodologies to be implemented.
They said that country faced various economic challenges in last year including decline in exports and foreign direct investment, lowest tax-to-GDP ratio and inefficiency of Public Sector Entities but these challenged can be coped through meaningful partnership and dialogues between the government and the private sector.
They said that there are a number of issues that must be tackled on priority, the biggest one is how to keep the momentum of growth in the wake of a less than targeted growth of the Agriculture and the Manufacturing sector. The second one is the widening gap between exports and imports that could be contained by enhancing exports.
They said that that the government would also have to focus on agriculture, manufacturing sector, education, water, human resources, minerals, public health, tax collection system and end of corruption should be focused to get rid of economic worries. The LCCI office-bearers said that the agriculture is the largest sector of Pakistan as around 43% labour was dependent upon the agriculture. They said that this largest sector needs revolutionary reforms on war footing. They said that growth of agriculture sector would not only ensure food security and provision of raw material to the larges export-oriented industry textile but would also generate huge revenue for the government and vast employment opportunities.
They said that country’s population is growing at the rate of 2.10 percent every year and if this growth continues for next two decades, population would cross the mark of 240 million. They said that Pakistan needs to increase the yield per acre on steady pace therefore government should plan to bring that about 9 million hectors of fertile land under cultivation which is remained useless just because of shortage of water.
The LCCI office-bearers said that shortage of water is one of the biggest challenges being faced by the country. He said that million acres land could be brought under cultivation by constructing the Kalabagh dam therefore Kalabagh Dam should be one of the priorities of the government. They said that the education was the most top agenda of the government as it is the major force of development, progress and prosperity.
They said that Pakistan was enriched with the mineral resources worth trillion dollars that can make the dream of economic stability true. These resources should be fully utilized for economic uplift of the country and local companies should be given priority for mining. The LCCI office-bearers said that the Lahore Chamber of Commerce and Industry would continue to play its due role and supplement the government endeavours aimed at economic revival of the country and had already started spade work to this regard to identify the challenges being faced by the trade and industry.
They also stressed the need for developing regional, product specific and target oriented marketing strategy. New markets and new products need to be explored to reduce country’s dependence on few commodities and countries. Pakistan’s exports are highly concentrated in few items. Such concentration in few markets can also become a source for instability in export earnings. He said that Trade Development Authority should be revamped and private sector representation should be there so that the exports could be increased.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan