PIBF for coordinated efforts to combat poverty, revive economy

Business Recorder reported that the Pak International Business Forum (PIBF) has raised serious concern about a recent World Bank report, which claimed that 48 per cent of the region's poor are in Pakistan. In a statement issued on Monday, the forum called for joint action by the government, businesses and other stakeholders to reduce poverty, improve economic conditions and generate lasting jobs. It pointed to rising living costs, scarce employment and economic uncertainty as factors that have added to the hardship of low-income households.

The forum argued that sustainable growth depends on policies that attract investment, support businesses and entrepreneurs, and ensure development gains reach ordinary people. PIBF Central President Dr Mushtaq Mangat and Central Secretary General Muhammad Ejaz Tanveer said that temporary relief alone cannot reduce poverty. They stressed long-term planning, effective execution of development policies and a business-friendly environment that can create jobs and expand economic activity.

Small and medium-sized enterprises were described as key to livelihoods, job creation and local markets, and better access to finance, simpler regulatory procedures and steadier policy were presented as ways to lift economic activity. The forum also called for cooperation among government departments, educational institutions, business bodies and the private sector.