KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Monday urged the economic policymakers to devise a crisis-response strategy for preventing country’s economy.
President FPCCI, Atif Ikram Sheikh, in a statement issued here, expressed concern over the tensions between the United States and Iran and emphasized for proactive macroeconomic management to prevent the derailment of recent stabilization efforts.
Senior Vice President FPCCI, Saquib Fayyaz Magoon, highlighted that any conflict in the Persian Gulf directly threatens the cost of doing business and delayed shipments as a sudden disruption in the availability of essential raw materials or a spike in global fuel prices.
Vice President FPCCI and Regional Chairman Sindh Abdul Mohamin Khan said that Karachi, being the premier port city and industrial heartland, is directly in the crosshairs of any turbulence in maritime trade routes.
He urged establishment of fast-track business facilitation centers in every district and immediate coordination between provincial and federal authorities to lower operational frictions at the ports.
