ICCI acting president highlights role of business community in economic growth

ISLAMABAD: Acting President of the Islamabad Chamber of Commerce and Industry (ICCI), Abdul Rehman Siddiqui, underscored the crucial role of the business community in driving Pakistan’s economy, particularly in the industrial, commercial, and trade sectors. In a statement issued on Monday, Siddiqui acknowledged the numerous challenges faced by the business community but reaffirmed its commitment to contributing to the country’s economic well-being.

Siddiqui noted that while the business sector has been working diligently to reduce the country’s reliance on foreign debt through tax contributions, it expects the government to provide a supportive and conducive environment for business operations. He stressed the importance of access to essential services, such as electricity, gas, and reliable infrastructure, which continue to pose significant hurdles to business growth.

The acting president also called for political stability and long-term economic policies that would encourage the establishment of new industries, create job opportunities, and generate additional revenue for the government. He emphasised that these measures would help reduce Pakistan’s dependence on foreign loans and support sustainable economic progress.

Nasir Mehmood Chaudhry, the acting Vice President of ICCI, echoed Siddiqui’s concerns and emphasised the need for businesses, particularly new ones, to have access to low-interest loans and tax exemptions. These, he said, are critical to fostering the growth of new enterprises and ensuring their success in a competitive market.