Business leaders call for structural reforms, export-led growth, stronger public-private cooperation and policy continuity to sustain Pakistan’s economic recovery.
KARACHI: Businessmen Group (BMG) Chairman Zubair Motiwala and Karachi Chamber of Commerce & Industry (KCCI) President Muhammad Rehan Hanif have reaffirmed the business community’s confidence in Pakistan, calling for unity, economic discipline, structural reforms and stronger public-private cooperation to build a more prosperous country.
In a joint Independence Day statement, the KCCI leadership said August 14 should serve not only as a commemoration of Pakistan’s independence but also as an opportunity to renew the national commitment to building an economically strong, self-reliant and socially secure country.
“Pakistan has never been short of potential. What we need is the collective resolve, consistency of policy and an enabling business environment to convert this potential into sustainable economic growth, employment and prosperity,” they said.
KCCI welcomes strategic developments
The business leaders welcomed the Makkah Joint Defence Agreement between Pakistan, Saudi Arabia and Türkiye, describing it as a landmark development reflecting Pakistan’s growing strategic relevance and its role in promoting regional peace, stability and collective security.
They also highlighted Pakistan’s improved position in the 2026 Henley Passport Index, where the country ranked 101st, compared with 103rd in 2025.
The KCCI leadership said Pakistan’s economy had demonstrated encouraging signs of recovery and resilience, with official national accounts showing GDP growth of 3.7% in FY2025-26.
Remittances strengthen economic resilience
Motiwala and Hanif also praised overseas Pakistanis for their contribution to the economy.
Workers’ remittances reached $40.2 billion in calendar year 2025, compared with $34.7 billion in 2024. Remittances during July-May FY2025-26 stood at $38.1 billion, highlighting the continued contribution of Pakistanis living abroad.
The KCCI leaders said improved macroeconomic stability had created a stronger foundation for future economic growth.
They noted that the International Monetary Fund had acknowledged progress in policy implementation, economic recovery, confidence and resilience, while foreign exchange reserve rebuilding had exceeded earlier projections.
They also welcomed S&P Global’s upgrade of Pakistan’s long-term sovereign credit rating from B- to B, saying the improvement could support greater access to international capital markets and help attract foreign investment.
Structural reforms remain essential
Despite the encouraging developments, the KCCI leadership cautioned against complacency and called for deeper structural reforms to place the economy on a sustainable high-growth path.
They identified export-led growth, industrialisation, investment, productivity enhancement, energy-sector reforms, agricultural modernisation, human capital development, technological advancement, infrastructure development and expansion of the formal economy and tax base as key priorities.
“Macroeconomic stabilisation is an important achievement, but stabilisation must now be transformed into sustainable growth,” they said.
The business leaders stressed the need for policies that encourage investment, reward entrepreneurship, reduce the cost of doing business, promote industrial expansion and strengthen exporters’ competitiveness.
Business community seeks greater policy consultation
The KCCI leadership particularly urged the government to strengthen consultation with the private sector before introducing major economic, taxation, trade and regulatory measures.
They said the private sector should be treated as a partner in nation-building, with the government responsible for creating an enabling policy environment while businesses contribute through investment, production, exports, employment and tax revenues.
“A strong and institutionalised public-private partnership can unlock Pakistan’s economic potential far more rapidly,” they said.
Call for unity and policy continuity
The KCCI leaders paid tribute to Pakistan’s founders, armed forces, law-enforcement agencies, public servants, workers, entrepreneurs and citizens who have contributed to the country’s progress and security.
They called upon the government, political leadership, business community, professionals, academia, civil society and younger generation to rise above differences and make economic development a shared national mission.
They stressed that political and economic stability, institutional continuity, rule of law and consistent policies would be essential for Pakistan to realise its full economic potential.