Pakistan’s transshipment policy under revision to boost regional trade

September 29, 2024 (MLN): Pakistan's transshipment policy is being revised to spur cross-border trade and foster business opportunities for the local community, with the aim of positioning Pakistan as a regional business hub for Central Asia, South Asia, and the Middle East.

This has been stated by Federal Minister for Commerce Jam Kamal Khan while addressing 40 years anniversary celebration of Islamabad Chamber of Commerce and Industry ( ICCI ) as Chief guest.

He further highlighted that the government is working on increasing Ease of Doing Business in Pakistan to make it an attractive destination for foreign investment.

In this regard, projects like Pakistan Single Window have been undertaken to provide one node solution to potential investors rather than hopping between various government departments for different permits.

The government remains fully committed to supporting businesses and fostering an environment that enables them to thrive.

The Minister said that prudent and effective policies of the government have brought down inflation. Stable and increased foreign reserves have brought down interest rate.

Moreover the, Government has been working relentlessly on bringing down power tariffs for the industry in general and exporters in particular.

He added that the Prime Minister Shahbaz Sharif himself is paying utmost attention on the resolution of the business community’ s problems and that a high profile Board is already working under his ( Prime Minister) chair for the purpose.

He further said that an all-out effort is being made by every Ministry to see regional trade flourish and explore business opportunities for our exporters.

This will create employment for skilled labour force, bring in foreign exchange, boost revenues for the Government and bring in overall development in the country.

The role of Chambers in promoting trade and commerce, both domestic and international, cannot be overstated.

Over the past four decades, the Islamabad Chamber has played a pivotal role in spurring business activity, promoting entrepreneurship, and contributing significantly to national economic progress, he further stated.

In his welcome address Ahsan Zafar Bakhtawari, President Islamabad Chamber of Commerce and Industry, highlighted the major milestones of ICCI achieved during his tenure.

He said that he and his entire team tirelessly worked to resolve the problems being faced by the community and to provide it a congenial atmosphere for ease of doing businesses.

He said that we have to increase our exports, impart skill training to our youth and formulate long term economic policies for the wellbeing of the country.

He described his success as President ICCI the result of the entire team work and expressed the hope that the future leadership of the Chamber will carry forward this legacy.

Chairman Founder Group ICCI Khalid Iqbal Malik paid rich tributes to Ahsan Zafar Bakhtwari for his outstanding performance as President ICCI which made the Chamber as one of the premier Chambers of the country.

Former President FPCCI and ICCI Zubair Ahmad Malik by mentioning the problems of the business fraternity impressed upon the government for provision of necessary facilities to business community.

He also demanded incitation of immediate work on Pakistan-Iran gas pipeline project, CASA-1000, TAPI etc. in the best interest of the country.

President elect ICCI Nasir Mansoor Qureshi said that Pakistan is blessed with multiple opportunities and resources and the only needed thing is to showcase them articulately to overcome the economic challenges.

He also made the mention of his future plans to further promote the Chamber’s repute and especially to resolve community’s problems. Senior Vice President Faad Waheed emphasized the need for the continuity of the economic policies.

In his vote of thinks, Vice President Eng. Azharul Islam Zafar expressed gratitude to the chief guest for gracing the occasion.

Former Presidents of the Chambers were bestowed with awards at the hands of the Chief Guest acknowledging their remarkable achievements and dedication to the business community.

The celebration was attended by the business leaders, government functionaries and media persons.

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