CPEC must help develop local businesses: APBF

ISLAMABAD: All Pakistan Business Forum (APBF) President Ibrahim Qureshi on Saturday said that growth of the local businesses should go parallel with the China Pakistan Economic Corridor (CPEC) project to realise the future economic gains efficiently.

It is an opportunity for Pakistan to lay the foundations of becoming a mega economy, he said, adding that small and medium scale business start-ups, if encouraged and nurtured in a planned way, could increase the pace to achieve a position of economic stability in the region in line with the neighbours, China and India. “There are bigger prospects to engage with these economies on equal terms where production, services and investment can be exploited to the optimum scale of efficiency and effectiveness.”

He said that the CPEC project is a game changer for the region and would be instrumental in revolutionising the trade and business throughout Asia. Also, he added that Pakistan and China are vigilantly inclined to complete the project sooner, however, the government needs to plan its economic and developmental strategies according to an organised plan to reap the maximum benefits from the CPEC route.

Ibrahim Qureshi lauded the cause of establishing strong local business sector in Pakistan. “It is for the government now to take the matter seriously instead of relying on foreign investments. The government must encourage the business start-ups and provide them with opportunities on preferential basis,” said Qureshi.

The APBF president said the forum has been extending its support to every positive initiative taken by the government for the business community, and will continue to bring forward best efforts for materialisation of economic growth of the country.

While consolidating the importance of local business with the foreign investment opportunities, he said, “APBF has been identifying and engaging vital resourceful organisations across the globe. We have entered into MoUs and agreement of business and trade with different foreign investors, business communities and even foreign governments, but simultaneously, we equally believe that local manufacturing of products and provision of services must be ensured for prosperous Pakistan and its greater growth.”

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