Balochistan Strategy Summit Gains Government Backing

The summit highlighted Balochistan’s economic

potential, with strong backing from both the

businessmen and the provincial government

Staff Reporter

Karachi: The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has secured the support of the Balochistan Governor and Chief Minister for its landmark Balochistan Strategy Summit, aimed at addressing the province’s economic, trade, investment, industrial, and law & order challenges.

The two-day summit saw participation from prominent business leaders and was attended by key figures, including Dr. Gohar Ejaz, former Federal Minister for Commerce, Industry & Interior; S. M. Tanveer, Patron-in-Chief of UBG; and Allauddin Marri, former Chief Minister of Balochistan.

FPCCI Calls for Special Economic Incentives

FPCCI President Atif Ikram Sheikh emphasized the need for government focus on industrialization, tax waivers, and the establishment of Special Economic Zones (SEZs) to boost economic activity in Balochistan. He also urged for the creation of the Bank of Balochistan, similar to banks in other provinces, to facilitate business financing.

S. M. Tanveer highlighted that the business community is witnessing a positive shift in response from the Balochistan leadership. He urged the provincial government to allocate substantial funds for district-level economic development.

Saquib Fayyaz Magoon, Senior Vice President of FPCCI, stressed that a dedicated provincial bank is essential to bridge the financial gap for industrialists. He urged federal and provincial authorities to expedite its establishment.

Need for Insurance & Public-Private Partnerships

Nasir Khan, FPCCI Vice President from Balochistan, pointed out that the lack of an insurance company is a major obstacle for businesses. Without insurance, traders, industrialists, and investors face insecurity, discouraging economic activities in the province.

He also proposed a public-private partnership (PPP) model to develop business-supporting institutions. Additionally, he called for the withdrawal of the i-Form condition for imports, citing the lack of banking channels in Balochistan, which fuels smuggling.

Economic Resilience & Infrastructure Development

Mian Zahid Hussain, Chairman PAB-FPCCI, praised the resilience of Balochistan’s people in sustaining business activities. He emphasized the need for support to cottage industries and MSMEs to sustain the local economy. FPCCI has prioritized district economies in its research initiatives to unlock export potential.

Governor Balochistan Sheikh Jaffar Khan Mandokhail stressed the importance of a marketing and PR campaign to attract foreign direct investment (FDI) and domestic investors. He assured that the people of Balochistan would fully support the government’s investment initiatives.

Balochistan Government’s Commitments

Chief Minister Sarfraz Bugti announced key measures to boost investor confidence, improve infrastructure, and provide industrial plots. He confirmed that feasibility studies for the Bank of Balochistan are underway.

He also revealed that the province is making progress on major infrastructure projects, including roads and railway networks. For the first time, 90% of the PSDP funds for FY25 will be utilized by June 2025, reflecting the government’s commitment to economic progress.

The summit highlighted Balochistan’s economic potential, with strong backing from both the business community and the provincial government to drive sustainable growth and investment