The experts and entrepreneurs on Wednesday termed better coordination, policy consistency and awareness in the private sector imperative to trigger economic growth.
Inclusive policy making, better coordination between relevant government departments, policy consistency, and better awareness of the private sector regarding government initiatives could play a crucial role in triggering economic growth and development of Khyber Pakhtunkhwa in general, and Hazara Division in particular, said a press release.
The experts said this while sharing their views during Public-Private Dialogue on ‘Better Business Regulatory Environment in Khyber Pakhtunkhwa’. The dialogue was organized by Sustainable Development Policy Institute (SDPI) and National Network of Economic Think Tanks (NNETT)-Khyber Pakhtunkhwa Chapter. Dr Hassan Daud Butt, CEO, Khyber Pakhtunkhwa Board of Investment and Trade (KPBoIT), on the occasion presented details of several initiatives taken place in the Hazara Division.
He explained that these initiatives have contributed towards development of a policy framework for industrialization and investment inflow in Khyber Pakhtunkhwa. He highlighted that the focus of our effort is to further reduce the red tapes in provision of credit, more inclusivity in policy formulation besides other facilitation being offered by the provincial government.
Tayyab Mehmood, Manager, Hattar Industrial Estate (HIE), asserted that the government is paying attention to work with technical and vocational institute run by the industry. He added further that the policy focus on industry clustering and energy wheeling for Hazara division needs to be enhanced. Earlier, the women entrepreneurs from Abbottabad chamber of commerce and industry (ACCI) including Ms Tasleem from Phulkari, Ms Nughma from Naina Kids, and Ms Munazza from Kimmy Bags, highlighted the issues being faced by the women entrepreneurs of Hazara division.
They urged for the special incentivization of the cottage industry-based entrepreneurs working towards traditional handicrafts and opportunities for them to display their efforts nationally and abroad. Group Head, Abbottabad Chamber of Commerce, and Industry Mr Haji Iftikhar, was of the view that cottage industry development board may be formulated to facilitate and incentivize the talented women and micro industry of Pakistan. Muhammad Saleem Sarhadi, Senior Vice President ACCI, raised the issue of lack of awareness in the private sector pertaining government initiatives while Mr Anees Ur Rehman Lone, Vice President, ACCI, suggested that more focus on tax base should be made rather than on tax rate
Dr Arif Shah, representing Pak-Austria Fachhochschule institute of applied sciences and technology, was of view that inclusion of industries in academia and vice versa may require academic institutions to be converted into limited liability companies. Dr Kamran from Haripur University asserted that the impact assessment of previous schemes should be evaluated to move forward.