FPCCI welcomes non-interference of NAB into business community affairs

October 8, 2019: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Engineer Daroo Khan Achakzai Tuesday welcoming NAB Chairman’s assurance for non interference into business community affairs said it would restore confidence of the foreign and local investors to keep the production-wheel rolling and improve precarious condition of the country’s bleak economy.

In a statement issued here, he said that businesses were already in a complicated state-of-affairs due to global recession while action against business were not only adding to the miseries of the business community but were also promoting trust deficit between the government and the business community.

He further urged the government for creating a business-friendly environment to promote industrialization and job creation and this is only possible when business community would do their business without any intimidation.

He said that NAB chairman assured them that no NAB officer would harass any businessmen and remove their concerns in this regard on exigent basis. He said without a congenial and business-friendly environment, the government cannot attract local or foreign investment.

Daroo Khan said if any agency wanted to take action against any taxpayer on genuine complaint, it should first take FPCCI or concerned market association on board so that with mutual efforts, such complaints could be resolved.

Rectifying FPCCI President’s concerns in this regard, Iftikhar Ali Malik said raids conducted by agencies on business premises were creating resentment in the business community against the current government.

However, he said Chairman NAB’s assurance for not taking any steps to harass genuine businessmen was a source of confidence for the business community. He said that they would never support any illegal business activity.

He further said they are standing with Prime Minister Imran Khan in a move against corruption in Pakistan and extend all-out support to eliminate corruption in all its forms and manifestations.

He said it is good sign that despite so many challenges and hardships, the economic situation of the country is getting improved and they hoped that under dynamic leadership of Imran Khan, Pakistan would become a prosperous and respected country.

Iftikhar Malik suggested that the government should also focus its attention on the neglected sector of domestic commerce, which had 32 percent shares in the GDP, while it employed 20 percent of the workforce.

He said that higher exports were the only solution to get the country out of the prevailing financial crunch. It is the only way that can help repay debts; otherwise the country would never be able to get out of the debt trap and would have to take fresh loans to service the principal amount and interest of the actual loans, which was already over $100 billions.

He said the business community should not be politicized and democratic norms and ethics should be disseminated for better understanding of the complex economic conditions.

APP