Observer Report
Karachi
An Extra Ordinary Meeting of member states of Economic Cooperation Organisation Chamber of Commerce & Industry (ECO CCI) was virtually held recently to discuss the impact of COVID-19 on economic activities of ECO CCI member states and its repercussions and the government measures of each country to combat the pandemic and revive the business activities were also discussed focusing on enhancing exports and survival of small & medium enterprises SMEs.
The meeting was attended by heads of ECO CCI member states namely Azaraksh Hafizi – President ECO CCI, Rifat Hisarcýklýoðlu – President Union of Chambers and Commodity Exchanges of Turkey (TOBB), Dovletgeldi Rejepov – Chairman Turkmenistan CCI, Syed Hossein Salimi – Board Member ICCIMA along with representatives from Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
Pakistani contingent was led by Amjad Rafi – Chairman National Committee of ECO CCI (Pakistan Chapter). Amjad Rafi addressed the meeting by highlighting the measures taken by government of Pakistan to combat the coronavirus and the role of FPCCI to support the business community of Pakistan. Amjad Rafi informed that Government of Pakistan has taken immediate measures in terms of lockdown, improving health and quarantine facilities etc. In order to reduce the social and economic losses, the Government of Pakistan has taken number of steps such as Economic Relief package of Rs. 1.2 trillion, Ehsaas/ Kifalat program (Cash amount), State Bank of Pakistan has announced various schemes of loans on low/reduced mark-up, amnesty scheme for construction industry, Fiscal relief in terms of deferment of payments or extension in filing tax return, waif off different port related charges, waif off different provincial levies etc.
He also emphasized on collective effort of ECO CCI member states to curb the virus and promote the business activities. He appreciated that the Government of Pakistan is working tirelessly to support the business community while he also thanked the ECO CCI secretariat to schedule this meeting during this turmoil. Rifat Hisarciklioglu President ToBB in his welcome remarks said that it is new world order the world connected virtually. The COVID-19 is a global with local solution that is isolation and social distancing. World economy is badly affected and slowdown. Oil prices also have its repercussion on economic growth.
