Federation of Pakistan Chambers of Commerce and Industry says trade liberalisation with India will benefit consumers of both countries

Islamabad, October 17, 2012 (PPI-OT): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday said trade liberalisation with India will benefit the consumers of both countries.

Pakistani industry has been competing with Chinese products and we are ready to compete with Indian goods, said Haroon Rashid, Acting President, FPCCI.

Talking to Presidents of various chambers of Punjab and Khyber Pakhtoonkhwa here, he said competition is the critical driver of performance and innovation, it benefits everyone. Consumers stand to gain the most from greater competition as it encourages lower prices and greater choice.

Former President FPCCI Mian Habibullah, President Attock Chamber Dr. Khalid Sayeed Khan, President Islamabad Women’s Chamber Farida Rashid, SVP Tribal Chamber Shahid-ur-Rehman, Chairman Media FPCCI Malik Sohail, Samina Fazil, Alia Akram, Tariq Mehmood, and others were also present on the occasion.

Haroon Rashid said that fair and open competition means lower prices and greater choice while limiting consumers’ freedom of choice stalls innovation and encourages dangerous trends.

Studies show that regional and global economies benefit from an environment of fair and open competition.

He said that national business leaders Tariq Sayeed and Iftikhar Ali Malik have spent decades for normalisation of relations between two major Saarc countries as they knew that it will not only industry but also the masses at large.

He said that non-tariff barriers by India have become a cause of concern among Pakistani exporters; such problems are blocking enhanced intra-Saarc trade which is less than 6 per cent.

Haroon Rashid said that issue of energy has emerged as biggest threat to industry, import of energy cannot be realised due to host of reasons while disagreements over Thar Coal has been barring country to rationalise energy mix, cut oil import bill and spend more on welfare of masses.

He said that the losses in the power sector are unsustainable while restructuring is painfully slow which is making situation worse. A turnaround is only possible by privatising the entire power sector.

Efficient private sector management is the only way to cull circular debt and put the ailing power sector is on the right track, he remarked.

He said that government should focus on hydel power generation with or without the support of international lenders to secure future of the country.

Haroon Rashid congratulated all the newly-elected office holders of different chambers and assured them full support in resolving problems, discharging duties and initiatives aimed at welfare of business community.

In the end, all the leaders of business community reposed full confidence in the persons of Tariq Sayeed and Iftikhar Ali Malik terming them beacon of hope for Pakistan.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

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