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THE PAKISTAN BUSINESS COUNCIL’S AGENDA FOR THE ECONOMY

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The principal objectives of the Pakistan Business Council (PBC) are to foster growth and promote:

  • Jobs;
  • value-added exports;
  • import substitution;  
  • equitable broadening of the tax base;
  • sustainable development.

The central premise of PBC’s advocacy is that industry in a country with a consumer base of over 200 million can with the right policies, gain the critical mass to offer goods and services on competitive terms in both, the domestic and the global markets. Thus a strong domestic industry can deliver all the aforementioned objectives. PBC’s stance on “Make in Pakistan” is all the more relevant today as many developed countries move to protect their domestic markets. The term “Make in Pakistan” encompasses the maximization of local manufacturing and all services within the extended value-chains. Regretfully, lack of political will, unaligned and unpredictable policies, weak and fragmented bureaucracy, vested and short-term interests have together worked to convert Pakistan into a nation of import-reliant traders, costing jobs, creating repeated cycles of pressure on the external account and resulting in the loss of tax revenue necessary to fund social development.

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