The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the adoption of solar and wind energy as cost-effective power sources and proposed capping wheeling charges for the Competitive Trading Bilateral Contract Market (CTBCM) at PKR 4 per kilowatt-hour.
An FPCCI delegation met with Federal Finance Minister Senator Muhammad Aurangzeb to present a comprehensive "Charter of Economy." The document aims to foster political consensus and engage stakeholders, including political parties, to address Pakistan's economic challenges with a unified strategy.
The Charter recommends reorganizing specialized civil services by creating dedicated groups in critical sectors to guide policy and decision-making.
It also emphasizes regional trade, development financial institutions, and lending allocations—20% for long-term capital expenditures and 10% for startups. A stable exchange rate and uniform gas pricing for industries were highlighted as essential for economic growth.
Additional proposals include transferring ownership of state-owned enterprises to employees for management or privatization, converting pension funds into equity, and implementing reforms in debt management, trade, taxation, energy, and mineral resource exploitation.
The Charter also advocates for progressive agricultural taxation, governance improvements, digitalization, and updated bankruptcy laws.
Senator Aurangzeb praised the FPCCI's efforts, calling the Charter a timely initiative to unite stakeholders on economic recovery. He reflected on his involvement in a similar 2020 initiative by the Pakistan Business Council and stressed the need for sustained efforts over quick fixes.
The minister briefed the delegation on ongoing reforms in macroeconomic stability, taxation, energy, and federal government restructuring. He assured them of the government's commitment to addressing industrial energy costs and fostering export-led growth.
FPCCI members expressed appreciation for the government's efforts and urged continued focus on industrialization and economic development.
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