ICCI, ICSTSI call for promoting ease of doing business to revive economy

Islamabad:The business community on Thursday urged the government to focus on promoting ease of doing business in order to facilitate the growth of trade and business activities for reviving the economy of the country, which was passing through difficult times.

This demand was made during the visit of a delegation of the Islamabad Chamber of Small Traders and Small Industries to Islamabad Chamber of Commerce & Industry (ICCI), said a press release. Speaking on the occasion, President ICCI Ahsan Bakht­awari said that small businesses play an important role in promoting economic activities and urged the Capital Development Authority to address their key issues to facilitate them in business development.

He emphasized that the allot plots to Chambers of Small Traders and Small Industries so that these trade bodies can play a more effective role in promoting small businesses to improve exports, generate jobs and help revive the economy. He said that due to the high transaction costs and tough collateral requirements, sm­all businesses are facing great problems in getting loans from banks and urged the government to address this issue to increase their share in the total credit of the private sector.

It will enable businesses to play an enhanced role in the economic development of the country. He assured that ICCI would cooperate with ICSTSI in resolving the key issues of small traders and small industries to facilitate their better growth.