Proceedings of the Pakistan Economic Forum IV-2018

The Pakistan Business Council (PBC) is a think tank and business advocacy body composed of the leading private sector businesses, including multi-national companies in Pakistan. Its members’ sales represent every ninth Rupee of country’s GDP and they contribute 20% each to the national tax revenue and annual exports. Together they employ over two million in their value-chains. PBC members thus have a very significant stake in Pakistan’s economy and a deep commitment to fostering its growth.

Established in 2005, PBC has attempted to develop a national consensus around its key objectives:

  • Creation of jobs
  • Value-added exports
  • Import substitution
  • Broadening of the tax base to enhance revenue for sustainable and inclusive development

An important forum through which the PBC advocates policies to meet its aforementioned objectives is the Pakistan Economic Forum (PEF). The fourth PEF was held in January 2018 with a particular focus on the “Make in Pakistan” thrust. Domestic industry has been undermined by fragmented and unaligned policies, poorly negotiated trade agreements and a fiscal regime that favours imports. Millions of jobs have been lost and Pakistan has had to knock on IMF’s door on twelve occasions in the last twenty-eight years. Presently, the country faces an acute challenge on its external account. Only fundamental reforms can revive domestic industry and restore balance of payments. Attached is a collection of material presented at the PEF in support of the Make in Pakistan thrust.

With general elections approaching, PBC, as part of the national consensus building exercise, has summarized the key policy actions that political parties should agree to adopt. The building blocks around which PBC is engaging with the main political parties are attached. We intend to publish in due course the outcome of these discussions as reflected in each political party’s manifesto. At the same time, we continue to engage with other stakeholders in our quest for growth of employment, value added exports, import substitution and a broader tax base from more equitable fiscal policy.

Ehsan Malik
Chief Executive Officer

Building Blocks for Political Party Manifestos 2018

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