Anwar Saifullah Khan asks business community to focus on creating MNCs

Islamabad, February 06, 2020 (PPI-OT): The renowned industrialist, politician and member of Saif Group’s Advisory Board Anwar Saifullah Khan said that many countries have achieved better economic growth by promoting multinational companies (MNCs), but due to lack of unity among business community, Pakistan could not create any worthwhile MNC. He urged that business community should get united, pool its expertise and financial resources to create Pakistani MNCs that would help in promoting Pakistani brands in international market and improving our economy. He said this while addressing members of business community at Islamabad Chamber of Commerce and Industry.

Anwar Saifullah Khan said that Saif Group was making efforts to setup a cement plant in Dera Ismail Khan for which it was looking for local investors as partners and said that ICCI should cooperate in these efforts. He also briefed the business community about the ongoing projects of Eighteen, which is a joint venture of Ora Developers of Egypt, Saif Group and Kohistan Builders and Developers of Pakistan. He said ICCI members should explore investment opportunities in Eighteen. He said that Pakistan’s future was dependent on the talent of youth and said that government should encourage youngsters in every field including business. He said that government should take business leaders on board in its efforts for improving the economy that would produce better outcomes. He said that ICCI President was a young business leader and hoped that Chamber would achieve many new milestones under his leadership.

Speaking at the occasion, Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry said that conducive environment was vital for steering the economy out of current challenges. However, he said that record high interest rate, sharp devaluation of rupee, high utility prices and many other factors have brought stagnation in business activities. He urged that government should address these issues on priority basis and give preference in lending to private sector on cheap rates to revive economic activities. He thanked Anwar Saifullah Khan for visiting ICCI and exchanged views with him on matters of mutual interest.

Tahir Abbasi Senior Vice President and Saif ur Rehman Khan Vice President ICCI said that growth of over 50 allied industries was linked with real estate and construction sector but high taxes and other measures of government have caused slump in business activities of this important sector. They emphasized that government address key issues of real estate sector and make friendly policies for it to revive the economy. Zubair Ahmed Malik and Zafar Bakhtawari former Presidents ICCI, Khalid Chaudhry, Naeem ur Rehman Piracha, M. Naveed Malik and others also spoke at the occasion.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk