The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Thursday asked the government to promote domestic commerce to trigger economic growth.
Government has focused its attention of exports which are not picking up despite best efforts and heavy investment, said Chairman of FPCCI Regional Committee on Industries Atif Ikram Sheikh.
Therefore, he said, now government should focus attention on the neglected sector of domestic commerce which has thirty two percent share in the GDP while it employs twenty percent of the workers.
Atif Ikram Sheikh said that government should announce a comprehensive policy to promote domestic commerce and consider establishing a separate ministry for its promotion.
Improved domestic trade will result in expansion of businesses, employment opportunities, improved revenue and surplus production that can be exported to earn foreign exchange, he added.
The business leader said that road and rail network should be improved, GT Road should be upgraded, motorway should be made affordable for commercial vehicles, and ports as well as dry ports should be developed to make business a bit easy.
He said that the issue of intellectual property rights should also be tackled as weak implementation continue to damage local brands while legal system delays resolution of dispute for decades which is a great impediment.