Business community meets PPP leadership

KARACHI: President Peoples Business Forum Dr Mirza Ikhtiar Baig hosted a dinner meeting of the leading businessmen, representatives from FPCCI, multinational heads, Senator Saleem Mandviwala, Deputy Chairman Senate, Senator Sherry Rehman, Leader of the Opposition in the Senate and Faryal Talpur, President of PPP Women Wing.

Agha Siraj Durrani, Speaker Sindh Assembly, Jam Mehtab Dahar, Minister for Education, Senator Saeed Ghani, Minister for Planning and Works, S M Muneer, Khalid Tawab, Navaid Bukhari and Mian Mohd Abdullah also attended the event.

Dr Baig said that economy is in shambles, alarmingly high fiscal, current account and trade deficit and repayment of foreign debts are serious challenges on the external front, adding that depleting foreign reserves and rupee depreciation touching the lowest level Rs 117 are also concerns of the business community.

He said that more than 100 textile mills have been closed mainly in Faisalabad. As per senate standing committee on textile, there are more than 25 percent NPLs in the textile sector and the exporter’s refunds of Rs160 billion are not paid for the last three years, causing serious liquidity crunch and shrinking industrial activities.

Senator Sherry Rehman in her speech said that the alarming circular debts of more than Rs 1 trillion, huge losses of public sector and loss making organizations are the hanging swords on the government.

Senator Saleem Mandviwala promised that the PPP government will pay all exporter’s outstanding refunds within one month, if their party forms the next government. He expressed concern about falling exports.

Faryal Talpur recognized the outstanding work of Dr Ikhtiar Baig who is acting as a bridge for the long time between the business community of Pakistan and the PPP.

Dr Baig has been offered the National Assembly ticket from NA-250 now NA-247 Karachi to contest the forthcoming election and is in process to complete formalities. Dr Baig thanked former president Asif Ali Zardari and PPP Chairman Bilawal Bhutto Zardari for their confidence by awarding him the party’s ticket to contest.

S M Muneer, Patron-in-Chief, UBG assured that the entire business community of Pakistan is behind Dr Baig to support him in the election and lauded his contributions to the business community and national economy. He said that Dr Baig is our nominated candidate for the next FPCCI election.

Khalid Tawab said that Dr Baig is regularly contributing through his economic columns and TV interviews and is well respected in the business community of Pakistan and an asset for PPP and UBG.