Trade bodies, chambers have a significant role in economic prosperity: BMP

The Businessmen Panel (BMP) of FPCCI felicitated the all newly-elected office-bearers of chambers of commerce and associations across the country and hoped they would address the issues being confronted by business community on priority basis.

Mian Anjum Nisar, Chairman BMP and Secretary General Senator Ghulam Ali said trade bodies and regional chambers have a significant role for the country economic prosperity. It’s time we may put our due role to device charter of economy which is much needed.

Anjum Nisar requested the government to focus on arresting the downward trend of dwindling export on urgent basis and provide urgent and workable package of incentives to boost exports. On the endogenous side the most important factor is the conflict between the tariff policy and monetary policy and lack of role of the TDAP. Moreover, import tariff on the export inputs has further added to the cost of production.

Similarly investment in export sectors has remained disturbingly low, as a cut-throat competition with emerging players such as Bangladesh and Vietnam has made margins fairly unattractive. As a result of low levels of investment, exporters are not geared to position themselves against changing consumer preferences in partner countries; he added.

Senator Ghulam Ali also mentioned the limited entry of Pakistani enterprises in the global value and supply chains, insufficient trade facilitation measures as well as a lack of synchronized support from the TDAP, uncertain availability of export credit for small and medium enterprises— which is not based on economic fundamentals were the key areas that needed work.

However the leadership of BMP firmly believed that our all decisions were taken with consensus in the interest of the business community and always all out efforts were made to help address the genuine grievances being confronted by the traders.

Further, the BMP Chairman has termed the performance of United Business Group (UBG) highly disappointing and discouraging during the last three years which also affects the glory of the Federation Chambers of Commerce (FPCCI).

Meanwhile the Businessmen Panel (BMP) restructured its Punjab Chapter and some other portfolios in its recent meeting to strengthen the group further for close liaisons with the chambers and associations. In this regard Mian M Usman Zulfiqar was elected as Secretary General Punjab, Muddasar Masood elected Finance Secretary, Javed Siddique elected as Vice Chairman Punjab (Association Class) and Ahmad Jawad elected as Information Secretary Punjab and Spokesperson of the BMP Group

They said our dedicated efforts would put us in a comfortable position in the forthcoming annual election of the Federation of Pakistan Chamber of Commerce and Industry, an apex trade body of Pakistan.