All Sindh-Based Chambers of Commerce Gather at FPCCI Murtaza Wahab Statement Termed Confused Hyderabad – Sukkur Motorway and Operationalization of Nawabshah Airport Demanded

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has termed the statement of Mr. Murtaza Wahab, Mayor
Karachi, as confused, insensitive and unnecessary. He is an elected mayor of Pakistan’s largest city; which
is also happens to be one of the world’s largest cities, he should have avoided giving such an irresponsible
statement, he added.

Mr. Atif Ikram Sheikh apprised that Presidents of all Sindh-based chambers of commerce gathered in
FPCCI Head Office, Federation House, Karachi, to propose practical solutions to Sindh’s infrastructure,
law & order and ease of doing business-related issues. FPCCI speaks for the entire Sindh – be it cities large
or small, towns, industrial states or its highways. We want development and uplift across the board, he
added.

MrFPCCI Chief expressed his concerns that Hyderabad – Sukkur Motorway has been delayed multiple times;
and, the delay continues to hamper the economic, industrial and commercial development of these two
important cities of Sindh. He questioned what is stopping the governments – federal or provincial – to not
letting Sindh benefit from the completion of the project?

Mr. Atif Ikram Sheikh informed that it has been decided that FPCCI will provide women entrepreneurs
with exhibition areas in its offices; and, it will also educate and facilitate businesswomen to enter into
export markets. If our women are enabled to export their products, there will be an economic
transformation in the country on a grass-roots level; which will be export-driven, he added.

President FPCCI demanded that there should be a reduction of 500 basis points (bps) in the key policy rate
in the upcoming monetary policy committee (MPC) meeting on December 16, 2024. The consumer price
index (CPI) has crashed to 4.9 percent in November 2024; and, the policy rate remains at 15 percent. It is a
premium of 1,010 bps; and, no economy can grow at this policy rate. He termed reduction in policy rate as
the primary demand of FPCCI in a macroeconomic framework.

Mr. S. M. Tanveer, Patron-in-Chief, UBG, maintained that the vibrant, dynamic and enterprising CCIs –
Chambers of Commerce & Industry – are leading from the front to promote industrialization, economic
development and employment generation in the Sindh province.

Mr. S. M. Tanveer demanded that industrial areas of Sindh are in need of infrastructure, water, gas, solid
waste management and law & order. If the provincial government can provide us these basic amenities, we
will industrialize the province with multi-sectoral, export-oriented and game-changer industrial units, he
added.

Mr. Saquib Fayyaz Magoon, SVP FPCCI, raised the issue of Nawabshah Airport as the airport itself is
ready; but, for some unknown reasons, it has not yet been operationalized by the Sindh government.
Nawabshah can see a flurry of new businesses, foreign & domestic investments, industrial units and joint
ventures with other businessmen from Pakistan, if the airport is operationalized. Not only that, many
adjoining districts of Nawabshah will also have the trickle-down economic benefits, he added.