Futuristic Shipping Policy being prepared ~~ Vice Admiral(R) Iftikhar Rao

Vice Admiral (R) Iftikhar Rao, Special Assistant to Prime Minister for Maritime, disclosed that the government is shaping a futuristic Shipping Policy keeping in view the new dynamics of the Maritime Sector. The Policy would address all aspects that would lead to a pragmatic outlook and enable all stakeholders to participate with more determination. He added that Maritime Economic Security is also crucial although it is different from Maritime Naval Security. Therefore, it is imperative that Maritime Economic Security and Maritime Military Security given equal importance. He was presenting his keynote address as Chief Guest at the Maritime Conference hosted by Global Compact Network Pakistan and Maritime Anti-Corruption Network based in Denmark.

Admiral Rao further stated that Pakistan pays over $7 billion each year to foreign shipping lines and this is a huge burden on the country’s foreign exchange reserves. He said that until 1960, Pakistan had no state-owned shipping company and now has only PNSC. He advised the private sector to enter the shipping sector since the future is very profitable in shipping.

EFP actively working on Gender Equality and Equity ~~ EFP President

Malik Tahir Javaid, President Employers Federation of Pakistan, stated that EFP is the leading employers’ body that has been actively working to empower women with equal access to decent work, promote gender equality, and eliminate all forms of discrimination at home and at the workplace which is in line with its mission to make Pakistani’s economy prosperous, sustainable, and inclusive. EFP has also taken the lead in creating awareness about the UN Sustainable Development Goals and the ILO Decent Work Agenda, especially SDG 5 on Gender Equality and SDG 8 on Decent Work and Economic Growth. He was speaking as the Chief Guest at the Global Compact Network Pakistan event on Target Gender Equality in Islamabad.

Huge economic costs of corruption: Majyd Aziz

KARACHI: Majyd Aziz, President Global Compact Network Pakistan(GCNP), has said that corruption in business is a universal problem and that the worldwide economic costs of corruption are in excess of $2 trillion. In Pakistan, corruption and bad practices are now institutionalized and hampering economic progress. The widespread corruption results in an inefficient economy. Moreover, the moral cost of corruption is endemic too and those who have discretionary or decision making powers are either forced to commit corrupt practices or are deeply involved in taking advantage of their positions.

Majyd Aziz was chairing the Roundtable Meeting on Identification of Good Practices, Malpractices and Corrupt Practices and their Solutions in Maritime Industry of Pakistan, hosted by GCNP in association with Maritime Anti-Corruption Network (MACN) based in Denmark. He was addressing users and stakeholders of Maritime industry from eleven Chambers and Associations.

Contact-free ecosystem facility must for business: KCCI president

KARACHI: Today’s fast-track global business demands that online documentation and digitization is essential for Pakistan’s private sector and that a total contact-free ecosystem must be introduced in the country. KCCI, being the representative organization of all Karachi’s trade and industry, has been advocating this system. KCCI acknowledges that a lot of progress has been made to digitize and it is high time the private sector’s time, efforts, and money are not wasted in visiting government departments and agencies”. These views were expressed by Chief Guest Muhammad Tariq Yousuf, President Karachi Chamber of Commerce and Industry while addressing the “Global Compact Network Pakistan Roundtable Conference on Maritime Anti-Corruption Network”.

Peace not possible without flourishing business: Motiwala

KARACHI: “Pakistan can progress, sustain, and achieve a peaceful environment if business is provided an enabling environment to flourish and grow. This is highly important in conflict regions of Pakistan where business and society have been tremendously affected due to the nefarious activities of insurgents and extremists. Business activities are the catalyst to ensure a Peaceful, Progressive, Productive, and Prosperous Pakistan”. These views were expressed by Chief Guest Zubair Motiwala, CEO Trade Development Authority of Pakistan, while addressing the Global Compact Network Pakistan Conference on Business for Peace.

Zubair Motiwala, who is also Chairman of the Businessmen Group of KCCI, added that the government is now cognizant of the need to provide a secure and safe business ecosystem for foreign investors. The formation of the Special Investment Facilitation Council would be the channel to motivate the drive for foreign investment and can rightly be termed as a pragmatic vision for Pakistan’s progress and prosperity. He also said that we have enough textile capacity and hence it is time to focus on investments in other sectors.