Pak-Iran gas pipeline is the lifeline of Pakistan’s economy

KARACHI: The FPCCI leadership stressed the completion of the Pak-Iran gas pipeline project, calling it a catalyst for Pakistan’s industrial development, at an emergent press conference on Defence Day held at the FPCCI head office, Karachi.
The press conference was addressed by Mir Alauddin Marri, former Chief Minister Balochistan; Abdul Mohamin Khan, Vice President and Regional Chairman Sindh, FPCCI; Mian Zahid Hussain, Chairman, Policy Advisory Board, FPCCI; Nasir Khan, Vice President, FPCCI; and Asif Inam, former Chairman APTMA. They highlighted the economic revival of Pakistan through district economies, floods, and rehabilitation work.
Mir Alauddin Marri welcomed the establishment of Balochistan Bank after 12 years of struggle, terming it a “window of opportunities” for the people of Balochistan through credit facilities and incoming investments. He appreciated President Asif Ali Zardari’s role in restoring the Pak-Iran gas pipeline, noting that while gas has reached Pakistan’s border, the country has yet to lay its share of the gas lines.
Discussing the critical issue of insurgency and terrorism in Balochistan, he linked the problem to “bad governance,” urging the provincial government to enforce its writ and complete devolution. He said that due to poor law and order, Balochistan has failed to capitalize on opportunities offered by CPEC, its strategic location, and rich mineral resources. He emphasized the need for technological advancement and mineral refining facilities to reduce losses.
Highlighting the importance of a strong economy for national defence, he said the business community must be given opportunities to work openly for economic development, adding that the SIFC is facilitating businesses. He pointed out that Balochistan’s budget is Rs. 150 billion while its revenue is only Rs. 31 billion, noting that the Balochistan Bank has been approved with SIFC’s intervention to attract foreign direct investment.
Nasir Khan, Vice President FPCCI, stressed the need for a broad consultative process to resolve economic problems and condemned the inclusion of “bogus businessmen” in consultative meetings, which discourages genuine business leaders. He warned that investment is leaving the country, with local businesses shifting to Bangladesh and elsewhere.
Mian Zahid Hussain, Chairman, Policy Advisory Board, FPCCI, remarked that Defence Day coinciding with Eid Milad-un-Nabi is a positive sign. He drew attention to the high tariffs-50% on Indian goods and 19% on Pakistani goods by the US-and said a favorable business environment is necessary to capitalize on such opportunities.
Abdul Mohamin Khan, Vice President and Regional Chairman Sindh, FPCCI, said President FPCCI Atif Ikram Sheikh and Patron-in-Chief UBG SM Tanveer had united the business community nationwide. He called for reducing electricity tariffs to 9 cents and capping interest rates at 6%.