LAHORE, Jul 05 (APP):SAARC Chamber of Commerce and Industry former president Iftikhar Ali Malik on Sunday called for accelerating efforts to translate Pakistan’s diplomatic engagement with Iran into sustainable economic growth through enhanced trade, energy cooperation and investment. In a statement,he said Pakistan needed a two-pronged strategy focused on expanding economic ties with Iran while strengthening its presence on regional and global economic platforms to achieve long-term prosperity. He urged …
Former SAARC President calls for stronger Pakistan-Iran economic partnership
LAHORE, Jul 05 (APP):SAARC Chamber of Commerce and Industry former president Iftikhar Ali Malik on Sunday called for accelerating efforts to translate Pakistan’s diplomatic engagement with Iran into sustainable economic growth through enhanced trade, energy cooperation and investment.
In a statement,he said Pakistan needed a two-pronged strategy focused on expanding economic ties with Iran while strengthening its presence on regional and global economic platforms to achieve long-term prosperity.
He urged the government to institutionalize cooperation with Iran in the areas of energy,trade and logistics,saying such measures would bring long-term economic benefits for both countries.
Malik said Pakistan should also focus on promoting its economic potential internationally, adding that the country had a strong base of family-owned businesses with significant investment capacity.
He stressed that the private sector should be allowed to play a leading role in driving economic growth.
He said targeted fiscal and monetary incentives through commercial banks, simplified tax policies and the one-window facilitation mechanism of the Special Investment Facilitation Council (SIFC) would help strengthen economic foundations.
He added that enhanced economic cooperation with Iran could lead to increased bilateral trade, affordable energy supplies, reduced smuggling and lower cross-border transaction costs, while also improving Pakistan’s international economic outlook.
He further said diplomatic initiatives could yield meaningful economic dividends if complemented by policies promoting export-led growth, value addition, foreign direct investment, job creation, import substitution and technology transfer.
