KARACHI: “Pakistan can progress, sustain, and achieve a peaceful environment if business is provided an enabling environment to flourish and grow. This is highly important in conflict regions of Pakistan where business and society have been tremendously affected due to the nefarious activities of insurgents and extremists. Business activities are the catalyst to ensure a peaceful, progressive, productive, and prosperous Pakistan.”
These views were expressed by Chief Guest Zubair Motiwala, CEO Trade Development Authority of Pakistan, while addressing the Global Compact Network Pakistan Conference on Business for Peace.
Zubair Motiwala, who is also Chairman of the Businessmen Group of KCCI, added that the government is now cognizant of the need to provide a secure and safe business ecosystem for foreign investors.
The formation of the Special Investment Facilitation Council would be the channel to motivate the drive for foreign investment and can rightly be termed as a pragmatic vision for Pakistan’s progress and prosperity. He also said that we have enough textile capacity and hence it is time to focus on investments in other sectors.
He highlighted the crucial need to support and facilitate investment in agriculture, mining, and information technology.
Lal Dino Mari Baloch, Chairman Silicon Valley Holding Company based in Hong Kong, who was the Guest of Honor, declared that not all experiments to attract foreign direct investment have been as successful as envisioned. There is a dire need to implement policies and to adhere to the commitments made to foreign investors.
There is a need to restructure the old system of obtaining a number of NOCs required by foreign investors and advise the government to learn the best practices prevalent in other countries that have attracted large foreign investment. He highly appreciated the CPEC initiative and advised all Pakistanis to unite in supporting CPEC.
He lamented that insurgency in conflict areas naturally leads to low development of the region and that is why areas remain backward and a large population demoralized.
Therefore, he offered a proposal that business community, economists, financial and legal experts, etc. must set up Joint Economic Forums or Think Tanks to find real time solutions that would lead to large investments even in conflict areas.
He further said that his company is determined to invest in Balochistan and AJK and has acquired 25,000 and 5,000 acres respectively.
Earlier, Majyd Aziz, President GCNP, in his welcome address, stated that the Business for Peace is an initiative of UN Global Compact and is a global platform that recognizes and promotes the transformative role of businesses in fostering peace, stability, and sustainable development in conflict affected and high risk regions.
This initiative brings together companies, governments, civil society organizations, and academia to drive positive change and create lasting impact in these regions and beyond.
Majyd Aziz further said that an all-inclusive dialogue must take place between companies and local residents in conflict regions to address, collaborate, and resolve dilemmas and issues, whether economic, environmental, or social.
Trust is imperative and the Business for Peace platform is designed to expand and deepen not only the actions of the business community and investors, but also bridge the gap between them and the residents of the region.
The vision is to strive for a strong economy, secure and stable societies and the nation, and foster tolerance and create trust.
Junaid Makda, representing Karachi Chamber of Commerce and Pakistan Afghan Joint Chamber of Commerce & Industry as their Former President, stated that it is only Business that can lead to Peace instead of “Piece”.
Formalization of business in conflict areas can help reduce tension within the areas as well as at borders and would be a deterrent against smuggling. Border fencing is vital to discourage terrorists and insurgents to enter the country.
He said the fact that border trade between Pakistan and Afghanistan would also transform the conflict areas into a facilitative region for business and employment.
Copyright Business Recorder, 2023
Read the full story at the Business Recorder - Latest News website.
