Economy on the right track, says President

By Uzma Zafar

ISLAMABAD: President Dr Arif Alvi Wednesday said that steps were being taken to improve business environment of the country by providing various incentives and facilities to the business community.
He said the economy of the country was heading in the right direction that reflected the confidence of the business community in the economic policies of the government. The president expressed these views while talking to a delegation of the Haripur Chamber of Commerce and Industry (HCCI) led by that called on him, at Aiwan-e-Sadr.
Talking to the delegation, the president further said that the business community played a significant role in the economic development of the country and a number of steps had been taken to facilitate them, particularly during the COVID-19 pandemic.
He further said the government, despite tough financial constraints, had provided a financial stimulus package worth Rs. 1.2 trillion to protect the business community and underprivileged strata of society from the adverse impacts of the pandemic. The president highlighted that the country’s exports had also witnessed a significant surge which had reached $25.3 billion during the last fiscal year.
He expressed satisfaction over the economic performance of the country, saying that the collection of Rs. 850 billion by FBR, exceeding the target by Rs. 160 billion, during the first two months of the current fiscal year was a testament that the economic health of the country was improving.
He said the government was focusing on creating optimum business environment and due to its efforts, Pakistan’s rank in the ease of doing business index had improved from 136th to 108th position. President HCCI Shahbaz Majeed Sheikh apprised the president about the role being played by the chamber in the economic development of the country.
The delegation also briefed the president about certain problems being faced by HCCI. The president also appreciated the role of HCCI and the business community in the national development and assured them of all possible support to help address their problems.
Meanwhile, President Dr Arif Alvi has signed Election Ordinance (Third Amendment) 2021 under Article 89 of the Constitution of Pakistan, binding the elected members to take oath within sixty days of the commencement of first sitting of the maiden session of legislature.
The amendment was made to section 72 of the Election Act 2017. According to a press release on Wednesday, under the amendment, the members would have to take oath within forty days of the promulgation of this ordinance. In case of failure to take oath within the mandatory period, seats of elected members to Senate, Assembly and Local Government would become vacant.
Meanwhile, the president also signed Pakistan Council of Research for Water Resources (Amendment) Ordinance 2021. The amendment was made under Section 16 of the Act 2007. The Council would make appointments for the better performance and discharge of duties of the institute. It also gets the power to hire services of advisers and experts on contract basis.
The president also approved a summary regarding appointment of Muhammad Saeedullah on deputation as judge of the Accountability Court Rawalpindi.