20000102

Investor confidence

vital for economy's

role in socio-political

environ

RECORDER REPORT

KARACHI: In view of the importance of the economy in providing a stable socio-political environment in Pakistan, it is imperative to restore confidence of the investors, both local and foreign, experts said on Saturday.

A meeting on the development of industry and trade was held at the secretariat of The Reformers where participants emphasised the importance of the economy in providing a stable socio-political environment, an official statement said on Saturday.

Highlighting the main areas of economic revival, Nisar Memon, the President of 'The Reformers', said that the confidence of the investors, both local and foreign, needed to be restored most urgently. The other sectors, which need to be radically reformed, are the trade policy and the taxation system (direct and indirect) and due importance should given to the provision of efficient infrastructure.

Yasin Lakhani, Chairman of the Economic Committee of The Reformers, conducted the discussion and emphasised the need for participation of the business community from all sectors to make a collective effort towards the economic development of the country.

The participants presented their views on areas of their interest and, finally it was decided that a sub-committee be formed to focus on the problems of industry and trade and make proposals towards facilitating economic revival in this sector.

Amongst others who participated in the meeting Shaukat Mirza, Dr. Farid Khan, Abdul Kader Jaffer, Asad Umar and Sultan A. Chawla supported this initiative of The Reformers and assured their fullest cooperation.