In a meeting at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Head Office on Tuesday, Atif Ikram Sheikh, President of FPCCI, criticized Murtaza Wahab, Mayor of Karachi, for what he called a “confused, insensitive, and unnecessary” statement. Sheikh urged Wahab to avoid irresponsible remarks, especially as Karachi’s mayor, given its stature as one of the world’s largest cities.
The gathering, which included Presidents of all Sindh-based chambers of commerce, focused on pressing issues affecting the province’s infrastructure, law and order, and ease of doing business.
FPCCI reiterated its role as a representative body for Sindh, advocating for development across the entire province, including cities, towns, industrial estates, and highways. Sheikh raised concerns over the persistent delays in the Hyderabad-Sukkur Motorway project, questioning why the federal and provincial governments have failed to complete this crucial infrastructure project, which hinders economic growth in these key Sindh cities. Further, the FPCCI President announced plans to support women entrepreneurs by providing them exhibition spaces in FPCCI offices and helping them access export markets.
Sheikh emphasized that empowering women entrepreneurs to export could drive economic transformation at the grassroots level. Sheikh called for a reduction of 500 basis points in the key policy rate during the upcoming monetary policy committee (MPC) meeting, citing the drop in the consumer price index (CPI) to 4.9% in November 2024, while the policy rate remains at 15%. He stressed that no economy could thrive with such a high rate, making it FPCCI’s primary demand for the macroeconomic framework.
M. Tanveer, Patron-in-Chief of UBG, praised the Chambers of Commerce and Industry (CCIs) in Sindh for their role in promoting industrialization, economic development, and job creation. He urged the provincial government to address the basic infrastructural needs of Sindh’s industrial areas, including water, gas, waste management, and law and order, in order to foster the growth of export-oriented, multi-sectoral industries.
