Business Recorder
ISLAMABAD: The business community on Wednesday appreciated Pakistan’s diplomatic efforts in securing a two-week ceasefire between Iran and the United States, saying the country needs similar successes in information technology (IT), agriculture, industry and construction to help reduce unemployment and poverty. Addressing a joint press conference at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) House, along with Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan,business community leaders AtifAkram Sheikh and S M Tanvir urged the government to coordinate efforts to put Pakistan on the path of economic growth. Speaking on the occasion, Haroon Akhtar Khan said that Pakistan has emerged as a leader during the crisis, becoming stronger both militarily and economically under the leadership of Prime Minister Shehbaz Sharif. He said the prime minister had demonstrated exceptional leadership during challenging times, remaining actively engaged with cabinet members. He assured the business community that the government remained committed to improving the industrial landscape to boost employment opportunities and bolster economic recovery. He said the PM had demonstrated exceptional leadership during challenging times, remaining actively engaged with cabinet members and closely overseeing key issues, including energy management, export promotion, and import containment. He said the prime minister kept the cabinet alert and fully involved, even holding consultations at odd hours to ensure effective decision-making and a timely response to emerging challenges. The SAPM conceded that production costs in Pakistan remained high, noting that despite a significant reduction in the interest rate from 22 per cent to 10.5 per cent, taxes continued to pose a challenge, limiting the competitiveness of local industries in global markets. He assured that relief measures would be reflected in the upcoming federal budget. Haroon Akhtar highlighted that the government’s coordinated efforts had helped stabilise the economy and safeguard macroeconomic indicators, adding that the leadership remained deeply concerned about the hardships faced by the common man. He said Pakistan had earned international recognition for its balanced and strategic handling of crises, noting that countries that once viewed Pakistan differently were now acknowledging its positive role. Emphasizing the importance of the private sector, he said sustainable economic progress would be driven by businesses, while the government’s role was to provide direction and facilitation. Calling industrialisation the key to prosperity, he said it would increase exports, substitute imports, reduce the trade deficit, and help overcome current account challenges. He expressed optimism about an improvement in foreign investment and said Pakistan now had a significant opportunity to move forward under the present leadership and political stability. The SAPM said Pakistan possessed immense potential and urged all stakeholders to take advantage of emerging opportunities to transform the country into a strong economic power. Speaking on the occasion, AtifAkram Sheikh lauded the leadership of PM Shehbaz Sharif, Chief of Defence Forces, Field Marshal Syed AsimMunir, and Deputy Prime Minister and Foreign Minister Ishaq Dar for their tireless diplomatic engagement and coordinated efforts, which played a crucial role in de-escalating tensions and bringing both sides to the negotiating table. He stated that Pakistan’s timely and balanced intervention at a critical juncture reflects the country’s growing stature as a responsible global player and a credible mediator in international conflicts. He emphasized that such efforts not only promote peace but also strengthen Pakistan’s diplomatic standing and open avenues for enhanced economic cooperation. He further noted that the easing of tensions in the Gulf region would have a positive impact on global energy markets and investor confidence, which is vital for economic stability in developing countries like Pakistan. He expressed optimism that continued dialogue would lead to a sustainable and long-term peace arrangement. S M Tanvir reiterated that the business community of Pakistan stands firmly behind the country’s leadership in promoting peace, stability, and economic progress. He stated that the successful ceasefire would significantly reduce uncertainty in international markets, providing much-needed relief to businesses and industries that were concerned about supply chain disruptions and rising energy costs. He added that such diplomatic successes enhance investor confidence and create a favorable environment for trade and investment. Copyright Business Recorder, 2026
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