KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed a charter to protect the economy from any political or policymaking unpredictability.

Acting President FPCCI, Khawaja Shahzeb Akram, proposed a non-political, inclusive, sustainable and legally-binding ‘Charter of Economy’ to forge an across the board contract and unflinching commitment towards economic growth, development and equality. He said that the aforementioned charter should encompass all sectors of the economy and all segments of the society.

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Akram in a statement on Thursday said that the draft of the Charter of Economy has been prepared by FPCCI with a high-degree of diligence, meticulous efforts, attention-to-detail, studying best-practices from across the globe and a thorough input from the business community from all sectors and segments of the economy.

FPCCI’s Acting Chief added that the aim of the charter is to protect the economy from any political or policymaking unpredictability; and, ensure provision of a business and economic environment where all investors, entrepreneurs, businessmen, traders and industrialists should feel confident and motivated to plan their businesses for the long-term.

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There should be no fear of a rollback in tax holidays or waivers; no strains of erratic new or ad hoc taxation; no imposition of unfair regulatory regimes; no harassment, bribes or corruption; no unhealthy or uncompetitive governmental policies; no ludicrously expensive utilities and no unstable political environs that destabilize the business sentiments.

Acting President FPCCI stated that a country should reward investors, inventors, entrepreneurs, SMEs, employment generation activities, exporters & foreign-exchange-earners and taxpayers who actually run the country through their services and contributions.

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Akram maintained that all political parties; whether in the government or opposition; should single-mindedly support FPCCI’s proposal to have a Charter of Economy in the supreme national interest and to save the economy of Pakistan from the ever-yawning existential challenges. He added that all institutions of the state should also come together to support the all-out efforts for the rejuvenation of the national economy.

He explained that the real job of the government and all its institutions is to provide an enabling environment for the businesses; cut costs of doing business and support ease of doing business. Pakistan’s business community is resilient, capable and experienced enough to take care of the rest; and, produce enough business and economic activity to put Pakistan on a sustainable high-growth trajectory.

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Sultan Rehman, Coordinator FPCCI Head Office, emphasized that FPCCI is the apex representative body of the entire business, trade and industrial communities of Pakistan; and, it has the mandate, capability and experience to bring them all together to sit with all the stakeholders of the state to express their full support towards the proposed Charter of Economy.