By Our Correspondent
LAHORE: Expressing grave concern over recent World Bank report in which it was claimed that 48 per cent of the poor of the region lives in Pakistan, the Pak International Business Forum (PIBF) has stressed the need for coordinated efforts by the government, business community and other stakeholders to address poverty, improve economic conditions and create sustainable employment opportunities in Pakistan.
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The forum observed that rising living costs, limited employment opportunities and economic uncertainty have increased the difficulties faced by low-income households and vulnerable segments of society. It emphasised that sustainable economic growth requires policies that promote investment, strengthen businesses, encourage entrepreneurship and ensure that the benefits of economic development reach ordinary citizens.
PIBF Central President Dr Mushtaq Mangat and Central Secretary General Muhammad Ejaz Tanveer said that poverty alleviation could not be achieved through temporary relief measures alone. He emphasised the importance of long-term economic planning, effective implementation of development policies and a business-friendly environment capable of generating employment and expanding economic activity.
They noted that small and medium-sized enterprises play a significant role in supporting livelihoods, creating jobs and strengthening local markets. Facilitating these businesses through improved access to finance, simplified regulatory procedures and greater policy consistency could help stimulate economic activity and provide opportunities for people seeking employment.
The forum also underscored the importance of cooperation among government departments, educational institutions, business organisations and the private sector. Such collaboration could help develop market-oriented skills, promote vocational training and enable young people to participate more effectively in the economy.
PIBF maintained that encouraging domestic and foreign investment was essential for strengthening productive sectors, expanding industrial activity and improving the country’s economic outlook. It called for policies that build investor confidence, support local entrepreneurs and facilitate the establishment and expansion of businesses.
The forum further stressed that economic development should be accompanied by practical measures to improve living standards and widen access to livelihood opportunities. A stronger private sector, transparent governance and targeted development initiatives could contribute to reducing poverty and narrowing economic disparities.
PIBF reiterated its commitment to promoting constructive engagement between the business community and policymakers to support economic stability, investment and inclusive growth. It urged all relevant stakeholders to work together on practical and sustainable solutions that create jobs, strengthen businesses and improve the quality of life of the people of Pakistan.
