Role of WB lauded for socio-economic development of Pakistan


KARACHI: World Bank (WB) has played an important role in the socio-economic development of Pakistan and the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) appreciates their services and is ready to facilitate World Bank for the economic progress and prosperity of the country.

This was stated by FPCCI Senior Vice President Abdul Rahim Janoo while presiding over an important meeting with members of the World Bank group at the Federation House, Karachi.

The meeting was attended by Private Sector Development Specialist Maria Magalena, World Bank Senior Economist Carolin Geginat, WB Consultant Amna Bajwa, Ministry of Finance representatives Umer Wahid and Fozia Abid and consultants Komal Shakeel and Nelam Maqsood.

The FPCCI SVP said that the change in methodology of measuring in ‘Ease of Doing Business’ is very dear to FPCCI as we are in a position to bring these into focus in the public sphere and work for strengthening the governmental policies to address the challenges currently being faced by Pakistan’s private sector.

“Pakistan is a business friendly destination and offers excellent opportunities to foreign investors and welcomes investment in its all sectors. It is sign of relief that despite various socio-economic challenges, Pakistan’s economy has been progressing in a right direction and improving day after day,” he added.

Abdul Rahim Janoo said that FPCCI is rendering services for highlighting the difficulties faced by the business communities in Pakistan by playing the role of a bridge between government and them. “We are committed to enhancing exceptional trade relations of Pakistan with all countries to strengthen the economic cooperation through business-to-business (B2B) meetings, organising exhibitions and exchanging business delegations,” he added.

He also appreciated the role of government for making business friendly policies and covering loopholes in the taxation system. He requested the government to release the pending export refunds otherwise, it would continue to damage the capital.

While sharing her views, Maria Magalena said Pakistan is an important country and World Bank also appreciated the services of Federation of Pakistan Chamber of Commerce and Industry as an apex private sector trade body for facilitating SME, entrepreneurs and business community of Pakistan. She said that the tax system should have to be strong to generate maximum revenue.

On the occasion, members of the business community appreciated the views of WB pertaining to ease of doing business in Pakistan and improving the overall business climate in Pakistan.

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