Foreign Service Personnel Briefed on Economy at FPCCI Atif Ikram Sheikh, President FPCCI

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has apprised that the apex body has briefed the group
of personnel from Foreign Service of Pakistan (FSP) at its Head Office in Karachi – with the aim to orient
them on macroeconomic issues & challenges; export promotion requirements of the business community;
trade diplomacy and branding of a country’s export offerings on an international scale

Mr. Atif Ikram Sheikh elaborated that the FSP delegation was told that IT & IT-enabled Services;
value-added agricultural produce; processed foods; blue economy & infrastructure; processed minerals &
chemicals and export of skilled workforce should be given priority in promoting Pakistan’s economic,
investment and trade relations.

Mr. Saquib Fayyaz Magoon, SVP FPCCI, stressed that foreign services representatives and trade &
investment officers of Pakistan should act like salesmen of the country; and, position Pakistan – as a
country – a formidable brand in the export markets. We should aim for geographically diverse and
multi-sectoral export promotion; coupled with industrialization and import substitution.

SVP FPCCI also briefed on FPCCI’s Vision 2030; with $100 billion exports as the primary objective.
This is doable; and, we need the support of foreign office, embassies and consulates of Pakistan around
the world for single-country, regional and international exhibitions.

Mr. Magoon also touched upon the recognition extended by FPCCI to the top 20 companies of the
country from 20 industries or sector – on the theme of one sector, one winner. The awards were named
FPCCI Excellence Awards; and. were given by none other than the highest office of the land; i.e.
President of Pakistan. We can say with confidence that these are the top 20 brands from Pakistan which should be promoted internationally. In total, we have identified 72 industries or sectors; and, we will be
identifying the top performers of the remaining sectors soon, he added

Mr. Aman Paracha, VP FPCCI, raised the challenges of cost of doing business and ease of doing business
with the foreign service delegates: (i) interest rate remains at 17.5 percent; which makes access to finance
impossible or unprofitable (ii) electricity tariffs are the highest in the region (iii) law and order needs to
improve for better investor confidence (iv) gas prices need to be rationalized for export-oriented
industries.

Mr. Arslan Meer, Programme Director FSP, maintained that the objective to visit FPCCI was to gain
practical and grassroots knowledge of the economic challenges, opportunities and potential of Pakistan.
We want to train FSP officers with the help of up-to-date and meaningful interactions, he added.