by: Farooq Mirza
Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), stated that the business community warmly welcomes the Prime Minister’s historic economic package. He described the announcement as a pivotal moment that has firmly set Pakistan on the path of export-led growth.
Islamabad: These remarks were made by Atif Ikram Sheikh during a press conference held at the FPCCI Capital Office in Islamabad on January 31, 2026. Also present on the occasion were FPCCI Vice President Tariq Jadun, Chairman Capital Office Malik Sohail Hussain, Advisor to FPCCI President Sheikh Mazmal Saleem, President Rawalpindi Chamber Usman Shaukat, Vice President Rawalpindi Small Chamber Asif Javed, and Chairman Founder Group Islamabad Chamber Tariq Sadiq.
Atif Ikram Sheikh added that our philosophy is not one of opposition but of support and meaningful partnership. We are fully aware of the IMF’s constraints and the government’s compulsions. We welcome the announcement of a Rs 4.04 per unit reduction in electricity prices and hope that further reductions will be possible in the coming days. Similarly, the introduction of the blue passport facility is also an encouraging step.
He stressed that a further reduction in the policy rate is the need of the hour, and it should be gradually brought down to 7 percent to encourage investment and reduce poverty.
The issue of wheeling has been pending for a long time, and FPCCI has remained in constant contact with the government on this important matter. An effective wheeling mechanism will not only facilitate the delivery of cheaper electricity but will also help our exporters meet global requirements. This will provide industries with access to affordable energy sources, which is a fundamental need in the international market.
Atif Ikram Sheikh further stated that the immediate recovery of Rs 300 billion in super tax would break the back of industries. In the current circumstances, this recovery would not only create a severe liquidity crisis but would also disrupt the entire business ecosystem. Therefore, there is a need to find a reasonable solution to this issue as well.
He added that promoting the district economy is essential for permanently resolving Pakistan’s economic problems. Just as Deputy Commissioners and DPOs operate at the district level, a District Economic Commissioner should also be appointed. This Economic Commissioner would be responsible for promoting district-level products, industrial research, industrial development, human resource development, women’s participation in the economy, SME growth, and providing better employment opportunities. Through this strategy, reasonable businesses and jobs can be provided to people at their doorsteps.
Our goal is to make Pakistan an export-led powerhouse. We will establish industrial hubs in every district of Pakistan.
He urged Prime Minister Mian Shehbaz Sharif and the Federal Minister for Finance to reduce the tax burden in the upcoming federal budget and to enforce compliance through digitalization rather than strictness.
Speaking at the press conference, FPCCI Vice President Tariq Jadun, Chairman Coordination Malik Sohail Hussain, former FPCCI President Ghazanfar Bilour, Chairman Founder Group Islamabad Chamber Tahir Sadiq, President Rawalpindi Chamber Usman Shaukat, former FPCCI Vice President Mian Akram Farid, and Advisor to FPCCI President Sheikh Mazmal Saleem welcomed the government’s economic package and the reduction in electricity prices. They described the Prime Minister’s initiative to issue blue passports to the business community as welcome and encouraging.
They requested the Prime Minister to take notice of the suspension of flour supply from Rawalpindi and Islamabad to Khyber Pakhtunkhwa.
They noted that the reduction in electricity prices by the government will lower production costs, the blue passport will enhance prestige, and export-led growth will increase. They emphasized that SMEs are the backbone of the economy, and their promotion is essential for national development. The government’s economic package will begin reviving closed industries, and the business community welcomes the decision to reduce electricity prices.
