Karachi: The confidence of domestic and foreign investors and industrialists needs to be restored to stabilize Pakistan's economy, Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Speaking with a delegation of businessmen, Paracha emphasized the importance of addressing the challenges faced by exporters and fostering unity among all societal classes to develop policies that drive the country towards development.

According to Federation of Pakistan Chambers of Commerce and Industry, Paracha highlighted the global trend of attracting investors with appealing incentives and called for similar policies in Pakistan to promote investment. He urged the government to collaborate with FPCCI leadership to address investor concerns, aiming to bring back capital currently outside the country and encouraging the establishment of industries domestically.

Paracha pointed out the discrepancy between governmental claims of reduced inflation and the reality that over 40 percent of Pakistan's population lives below the poverty line. He stressed the importance of understanding the underlying reasons for the country's lag in regional development and addressing unemployment. Restoring investor confidence and engaging with investors to resolve their issues is crucial for attracting new investments, which in turn could eliminate unemployment and provide better job opportunities for the youth.

He further called for minimizing the role of bureaucratic agencies to facilitate business operations, noting that high tariffs on taxes, power, gas, and water have adversely affected businesses. Paracha also emphasized the need to improve law and order as street crime rates rise and law enforcement's grip on criminal elements weakens. Providing incentives is essential for creating a more business-friendly environment.