ISLAMABAD: Pakistan Business Council’s Board of Directors in a meeting here on Monday discussed national issues regarding economy and development of the country.
The meeting was attended by leading directors including Atif Aslam Bajwa, President and CEO Bank Alfalah, Abdul Razak Dawood Chairman Descon, Ehsan Malik, CEO Unilever Pakistan and Kamran Y Mirza.
The business leaders of Pakistan Business Council (PBC) shared their thoughts on various key issues, a statement of the Council issued here said.
Regarding the recent interest rates in the country, though the PBC would have liked to have seen a decrease in the rates to stimulate investments and demand, the Board was of the opinion that given the current state of the economy, the decision of SBP to hold interest rates at their current levels was appropriate.
Though a stable exchange rate was an important indicator of economic stability, the Board was of the opinion that this should not be at the expense of competiveness of domestic manufacturing, they added.
It was noted that inflation was at record lows primarily due to a drop in commodity-oil prices.
The PBC board was of the opinion that this window of opportunity should be used to reduce subsidies especially in the energy sector.
The Board hoped that the Ministry of Commerce would actively involve the PBC in drafting and implementing the next Strategic Trade Policy.
The Board supported all moves by the FBR to increase the domestic tax base and document sectors of the economy which are currently out of the tax net.
The Pakistan Business Council is a non-political, not-for-profit institution.
The PBC’s objectives include proposal of policies that will accelerate Pakistan’s economic growth.
The PBC includes Pakistan’s largest corporations/business groups including multinationals.
