LAHORE August 01  Federation of Pakistan Chamber of Commerce and Industry,s United Business Group(UBG)  Sunday unanimously reposed full confidence in Prime Minister Imran Khan for successfully pursuing prudent economic policies to offset the impact of Covid-19 on national economy.

     Talking to a delegation of traders led by Shahid Nazir Ch member executive committee Lahore Chamber  Central Chairman UBG Iftikhar Ali Malik said it’s good omen that Prime Minister was taking top elected leaders of business community from all sectors into confidence prior to formulation of monetary and trade policies to push the national economy in the wake of deadly pandemic.

  He said UBG top leadership including its patron-in-chief SM Munir,President Zubair Tufail,secretary general Zafar Bakhtawari,secretary information Dr Mirza Ikhtiar Baig, presidential candidate for FPCCI Dr Nouman Idris,Khalid Tawab,Feroze Gulzar,Almas Hyder,Malik Sohail Hussain and other members of core committee today decided in principle to support the Prime Minister and extend helping hand in the larger national interests for  bringing gradually structural economic reforms mainly aimed at strengthening economy.

         He said the private sector is backbone of economy and engine of economic growth, creating jobs,increasing trade, providing goods and services to the poor besides generating tax revenue.He said government plays a central role in supporting economic growth and reducing abject poverty by fully ensuing result oriented sustainable policies.He said the vast majority of constraints to economic growth identified by the private sector are directly linked to government decisions and actions which he added needs to be addressed on top priority to accelerate the economic activities in the country.

   Iftikhar Ali Malik said that continuous stable democratic process is a key factor for sound economy.He said Prime Minister attached great importance to the private sector for ease of doing business and all out sincere efforts are being made to provide business friendly environment to gear up trade activities.

 He said private sector provided around 90% of employment including formal and informal jobs which also funded 60% of all investment and provided 80% of government revenue.He said private sector will continue to contribute its role in boosting export and to speed up industrialisation for prosperity of the down trodden segments of the society.he concluded.