President Asif Ali Zardari Urges Rationalization of Interest Rates and Support for Export-Oriented Industries
President Asif Ali Zardari distributing Excellence Awards among members of business community during 12th FPCCI’s Excellence Awards ceremony held at Aiwan-e-Sadr.
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| ISLAMABAD: October 08 - President Asif Ali Zardari distributing Excellence Awards among members of business community during 12th FPCCI's Excellence Awards ceremony held at Aiwan-e-Sadr. |
President Asif Ali Zardari calls for reducing interest rates and supporting export-oriented industries to revitalize the economy at the 12th FPCCI Excellence Awards ceremony.
Islamabad – President Asif Ali Zardari on Tuesday called for creating a more business-friendly environment by rationalizing interest rates, providing cost-effective energy, and supporting export-oriented industries as part of the broader strategy to revitalize the country’s economy. His remarks came during the 12th Federation of Pakistan Chambers and Commerce and Industry (FPCCI) Excellence Awards ceremony, held at Aiwan-e-Sadr, where key business figures and senior government officials were present.
In his address, President Zardari emphasized that high interest rates were detrimental to economic growth and businesses, underscoring the importance of reducing them to stimulate business activities. "We need a comprehensive approach to overcome the economic challenges facing our country, and that includes rationalizing the interest rates,” he said, noting that he would request the government to take measures in this regard.
Highlighting the importance of energy availability for economic prosperity, President Zardari urged for the provision of cost-effective electricity and land to enhance trade and industry development. “Affordable energy is the backbone of a thriving economy, and we must ensure its availability to strengthen our export industries,” he stated.
President Zardari also called on the business community to play an active role in the country’s economic transformation, urging them to invest in the stock exchange and support industries that empower small and medium-sized enterprises (SMEs), which generate employment opportunities. "The business community has a critical role in boosting the country’s economic stability," the president said.
Reflecting on his previous tenure, President Zardari recalled that despite the security challenges and the ongoing war on terror, his administration successfully increased the country’s exports by supporting export-oriented industries and providing cost-effective energy solutions. He encouraged similar efforts now to strengthen the economy.
Speaking about the importance of recognition, President Zardari lauded the FPCCI for organizing the Excellence Awards to honor the top-performing businesses in Pakistan. He appreciated the awards as a means to foster healthy competition and inspire the business community to strive for excellence. “These awards are not just accolades, they are a symbol of the effort and dedication of our business community towards the economic uplift of our country,” he remarked.
President FPCCI Atif Ikram Sheikh echoed these sentiments, noting that the business community was transforming economic challenges into opportunities, while FPCCI Group Leader Dr. Gohar Ejaz added that the country's economy was improving, thanks to the hard work of the business sector in boosting exports.
The ceremony concluded with President Zardari distributing the 12th FPCCI Excellence Awards to the country’s top businesses for their outstanding performance and contributions to Pakistan’s economy.
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