TP REPORT
ISLAMABAD: President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh, said that the business community wholeheartedly welcomes the Prime Minister’s historic economic package, terming it a decisive turning point in the “Maarka-e-Maishat” (Economic Battle) and a strong step toward export-led growth.
Addressing a press conference at the FPCCI Capital Office, Atif Ikram Sheikh emphasized the need to promote a District Economy, stating that FPCCI’s vision is to transform “Made in Pakistan” into a globally competitive brand and position Pakistan as an export-driven economic powerhouse.
He said that FPCCI believes in cooperation rather than confrontation, acknowledging the constraints arising from the IMF program and the government’s limitations, while continuing to pursue meaningful public private partnerships for economic stability and growth.
The FPCCI President welcomed the Rs. 4.04 per unit reduction in electricity tariffs, expressing hope that further relief would be announced to support industrial productivity and competitiveness. He noted that the activation of a wheeling mechanism, a long-standing FPCCI demand, would provide industries access to cheaper energy and help exporters meet international market standards.
Calling for supportive monetary policy, he urged a gradual reduction in the policy rate to 7 percent to stimulate investment, generate employment, and alleviate poverty. He also lauded the introduction of the Blue Passport facility for exporters, describing it as a morale-boosting initiative that restores the prestige of the business community.
Despite welcoming the overall package, Atif Ikram Sheikh expressed concern over the immediate recovery of Rs. 300 billion in Super Tax, warning that such a move could create a severe liquidity crunch and disrupt the industrial and business ecosystem. He urged the government to adopt a balanced and pragmatic approach.
To ensure long-term economic solutions, FPCCI proposed the appointment of a District Economic Commissioner in every district, modeled on the DC and DPO system. The proposed official would focus on industrial research, SME development, human resource development, women’s economic inclusion, and employment generation at the local level.
FPCCI leadership also appealed to the Prime Minister to take immediate notice of the suspension of flour supply from Rawalpindi and Islamabad to Khyber Pakhtunkhwa, highlighting its implications for food security. They further demanded that the upcoming federal budget prioritize reducing the tax burden and shifting toward digital enforcement mechanisms instead of coercive measures.
Speaking at the press conference, FPCCI Vice President Tariq Jadoon, Chairman Coordination Malik Sohail Hussain, former President FPCCI Ghazanfar Bilour, Chairman Founder Group ICCI Tahir Sadiq, President Rawalpindi Chamber Usman Shaukat, former Vice President FPCCI Mian Akram Farid, and Advisor to President FPCCI Sheikh Muzammil Saleem collectively welcomed the economic package and the reduction in electricity prices.
The business leaders said the measures would help revive closed industrial units, strengthen SMEs the backbone of Pakistan’s economy and accelerate the country’s journey toward sustainable, export-led growth.
