ISLAMABAD: The Islamabad Chamber of Commerce & Industry held a flag hoisting and cake cutting ceremony to celebrate the 73rd Independence Day of Pakistan. Asad Umar, Federal Minister for Planning & Development was the chief guest. A large number of business community was present at the occasion.

Addressing the ceremony, Asad Umar, Federal Minister for Planning & Development said that due to Covid-19 pandemic, UK economy have shrunk by 20% in a quarter while USA's economy by 32%, but with the grace of Allah SWT, Pakistan's economy did not face such worst slump. He said that with the better strategy of the government, our current account deficit has come down from USD 20 billion to USD 3 billion.

He said that the government was focused on promoting multiple sectors due to which our economy would soon get a boost and we would celebrate the next year as a growth year. He said that the business community have to face a lot of difficulties due to coronavirus, but better times are ahead for them. He said that fixed tax was under consideration for traders and assured that a meeting would be held in ICCI in near future to resolve key issues of the business community.

Speaking at the occasion, Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry said that promoting ease of doing business and creating conducive business environment was vital to steer the economy out of current challenges and put it on fast track growth.

He said that the 73rd Independence Day of Pakistan reminded us that we as a nation should work hard with honesty and dedication for the development of our beloved country. He said that Pakistan was created by making great sacrifices and every person of the nation should work with commitment for the development of Pakistan.

He said that Covid-19 pandemic has badly hit the businesses and government in consultation with the private sector should form new policies to address key issues and accelerate growth of the economy. He resolved that the business community would strive hard for the progress and prosperity of Pakistan.

Tahir Abbasi Senior Vice President, Saif ur Rehman Khan Vice President ICCI, M. Ejaz Abbasi, Khalid Iqbal Malik, Ch. Nadeem ur Din, Khalid Chaudhry, Sheikh Amir, Ch. Muhammad Ali, Nasir Chaudhry and others also spoke at the occasion and said that Pakistan was endowed with lots of natural resources and government should cooperate with private sector to transform the country into a rising economy.

They resolved that the business community would fully support the government in its endeavors aimed at making Pakistan a progressive and prosperous country. NNI