Business and public interest should be considered in price determination, says Ahsan Bakhtawari
Karachi (Commerce Reporter): Member of the Central Core Committee of UBG and former President of ICCI, Ahsan Zafar Bakhtawari, stated that the government should consult the business community and other stakeholders before making major economic decisions so that policies beneficial for business, industry, and the overall economy can be formulated. He emphasized that Pakistan currently needs clear, effective, and long-term economic and industrial policies to restore investor confidence and facilitate the establishment of new industries.
Speaking about the current economic situation, Ahsan Bakhtawari said that despite the increase in global oil prices, Pakistan continues to receive a steady supply of oil; therefore, both business and public interests should be considered when determining prices. He added that economic stability requires policies that promote industry, trade, and domestic commerce so that business activities can continue without disruption.
He further stated that decisions such as market operating hours, lockdowns, or other economic restrictions should be made in consultation with the business community, as traders contribute significantly to national tax revenue and play a key role in sustaining economic activity. Providing a conducive environment to the business community would create employment opportunities, increase industrial production, and boost exports.
Ahsan Bakhtawari noted that Pakistan is emerging as a safe country globally, and despite challenging regional conditions, the international community is willing to engage with Pakistan economically. He said that Pakistan’s strategy during global challenges and conflict situations has enhanced its positive image and increased international confidence.
He also highlighted that the safe passage of Pakistan-flagged vessels through global trade routes, particularly the Strait of Hormuz, reflects Pakistan’s growing importance and effective diplomacy, demonstrating its significant role in global trade.
He stressed the need for the government to formulate a comprehensive long-term industrial and commerce policy to provide clear direction to investors and encourage the establishment of new industries. He urged a review of unnecessary restrictions on the business community, especially those related to market operating hours, to further promote economic activity.
Ahsan Bakhtawari said criticism of the business community is unjustified, as it plays a vital role in national tax revenue and serves as a fundamental pillar of economic stability. He reaffirmed that the business community will continue to fully cooperate with the government for Pakistan’s development, as their future is tied to the country.
He expressed confidence that through mutual consultation between the government and the private sector, policies can be developed that enhance investment, industry, trade, and employment opportunities, ultimately making Pakistan economically stronger and more stable. He concluded that consistent policies are essential to restore investor confidence and position Pakistan as a strong economic force in the region.
