Former Abad Chairman, FPCCI VP lauds COAS for economic reforms

Pakistan Economic reforms

Karachi, September 12, 2023: Hanif Gohar, former Chairman of the Association of Builders and Developers of Pakistan (ABAD), former Senior Vice President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), and Leader of United Business Group (UBG), commended the efforts of Chief of Army Staff (COAS) General Asim Muneer in bolstering Pakistan’s economic prospects.

He emphasized that rebuilding business community confidence, ensuring security, and implementing structural reforms are essential steps to guide Pakistan towards economic progress and prosperity.

Gohar expressed his concerns about the current state of the economy, which has not only deterred foreign direct investment (FDI) but also local investments. He lauded General Asim Muneer as a beacon of hope for the business community, noting that his assurance has boosted confidence, particularly in efforts to combat elements involved in currency fluctuations, smuggling across borders with Iran and Afghanistan, and enhancing tax collection.

Additionally, Gohar highlighted the positive impact of General Asim Muneer’s statements and interactions on foreign investors, particularly those from Saudi Arabia, Kuwait, and the UAE. He suggested that these investments could potentially reach $100 billion across various sectors, greatly bolstering Pakistan’s economy and stabilizing its currency and forex-related challenges.

Furthermore, Hanif Gohar commended the COAS’s determination to privatize state-owned enterprises, which currently burden the economy with a staggering Rs.1.3 trillion amidst challenging economic circumstances. He also appreciated the COAS’s commitment to introducing incentives for ease of doing business, aggressively curbing smuggling along western and northern-western borders, expediting decision-making processes, implementing structural reforms, addressing liquidity issues, broadening the tax base, improving tax collection, managing debt repayments, and establishing a tax facilitation system. He underscored that includes the private sector.

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