LAHORE: Expressing concern over a recent World Bank report claiming that 48 per cent of the region’s poor live in Pakistan, the Pak International Business Forum (PIBF) has called for coordinated efforts by the government, business community and other stakeholders to combat poverty, improve economic conditions and create sustainable employment opportunities.
The forum observed that rising living costs, limited job opportunities and economic uncertainty had increased hardships for low-income households and vulnerable segments of society. It stressed that sustainable growth required policies promoting investment, strengthening businesses, encouraging entrepreneurship and ensuring that economic benefits reached ordinary citizens.
PIBF Central President Dr Mushtaq Mangat and Central Secretary General Muhammad Ejaz Tanveer said poverty could not be alleviated through temporary relief measures alone. They emphasised long-term economic planning, effective implementation of development policies and a business-friendly environment to generate employment and expand economic activity.
They noted that small and medium-sized enterprises played a vital role in creating jobs, supporting livelihoods and strengthening local markets. Improved access to finance, simplified regulations and consistent policies could help these businesses grow and provide more employment opportunities.
The forum also highlighted the need for cooperation among government departments, educational institutions, business organisations and the private sector to promote vocational training, develop market-oriented skills and enable young people to participate more effectively in the economy.
PIBF maintained that encouraging domestic and foreign investment was essential for strengthening productive sectors, expanding industrial activity and improving the country’s economic outlook. It called for policies that build investor confidence, support local entrepreneurs and facilitate business expansion.
The forum stressed that economic development must be accompanied by measures to improve living standards and reduce economic disparities. It reiterated its commitment to constructive engagement between the business community and policymakers, urging stakeholders to work together on sustainable solutions that create jobs, strengthen businesses and improve the quality of life of the people of Pakistan.