Pakistan will not default despite serious economic challenges: Ishaq Dar

Islamabad, The Gulf Observer: The friendly countries are expected to materialize their commitments with Pakistan that would pave the way to close the deal with the IMF and revive the economy.

ICCI hosts Iftar dinner in honor of foreign diplomats

This was said by Muhammad Ishaq Dar, Federal Finance Minister while addressing as Chief Guest an Iftar Dinner hosted by the Islamabad Chamber of Commerce & Industry in honor of foreign diplomats.

Ishaq Dar said that in 2016, Pakistan was a rising economy as it was expected to become the world’s 18th-strongest economy, but is now facing serious economic challenges.

Government is determined to promote ease of doing business and that current difficult phase would be over soon: Tariq Fazal Chaudhry

He said that Pakistan would not default and the government is making all possible efforts to steer it out of a difficult situation in order to put it on the path of sustainable economic growth. He lauded the initiative of ICCI for hosting an Iftar Dinner for diplomats.

Business community would fully support the government in its efforts to revive the economy: Ahsan Zafar Bakhtawari

Speaking at the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry said that the government should ensure consistency in economic policies that would enable the business community and investors to invest in Pakistan with confidence. He assured that the business community would fully support the government in its efforts to revive the economy. He highlighted the business and investment opportunities in Pakistan for diplomats. He said that Pakistan is a huge market of over 220 million consumers and offers great investment opportunities in various sectors of its economy. He said that the foreign investors should transfer technology to Pakistan and explore JVs and investment in areas of interest.

Tariq Fazal Chaudhry, former Federal Minister said that the government is determined to promote ease of doing business and hoped that the current difficult phase would be over soon.

Pakistan is a huge market of over 220 million consumers, offers great investment opportunities in various sectors of its economy

Faad Waheed, Senior Vice President ICCI said that Pakistan needs exports to overcome its foreign exchange crisis and hoped that the foreign diplomats would fully cooperate with Pakistan in realizing this goal.

Engr. Azhar ul Islam Zafar, Vice President ICCI thanked the chief guest, diplomats and all participants for participating in the Iftar Dinner. He said that if the government creates a more conducive business environment, the private sector would be able to improve the health of the economy.

Nova Group would cooperate with ICCI for the establishment of an industrial park in the region

Ch. Junaid Afzal, Chairman, Nova Group said that with the efforts of Ahsan Zafar Bakhtawari, President ICCI, Nova Group is working out on an attractive discounted package of residential and commercial plots for the members of the business community. He said that Nova Group would cooperate with ICCI for the establishment of an industrial park in the region.

Zafar Bakhtawari, former President ICCI said the business community is hopeful that Finance Minister Ishaq Dar would soon conclude a deal with the IMF that would enable Pakistan to cope with its current economic crisis. He said that the government should now work hard to end the country’s reliance on foreign loans and make it self-sufficient and assured that the business community would fully support in achieving this goal.

H.E. Atadjan Movlamov Ambassador of Turkmenistan, H.E. Yerzhan Kistafin Ambassador of Kazakhstan, H.E. Khazar Farhadov Ambassador of Azerbaijan, H.E. Ulanbek Totuiaev Ambassador of Kyrgyzstan, H.E. Dr. Mehmet Pacaci Ambassador of Turkey, H.E. Adam M. Tugio Ambassador of Indonesia, Dr. Ramez Alraee, Ambassador of Syria, and diplomats of many other countries including Saudi Arabia, Australia, Malaysia, Poland, Sri Lanka, Nepal, Republic of Turkish Northern Cyprus attended the Iftar Dinner. They appreciated ICCI for hosting a magnificent Iftar Dinner for them.