"The Islamic countries in particular and other nations of the world in general need to focus on increasing agricultural production and to create synergies for ensuring food security and to address the perceived food crisis." This was stated by H.E. Musa Hathim, the former Deputy Prime Minister of Malaysia during an exclusive meeting with group of Pakistani businessman led by Mr. Tariq Sayeed and Mr. Iftikhar Ali Malik, former Presidents of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) during '5th World Islamic Economic forum' which is taking place at Jakarta Indonesia these days.
The 5th World Islamic Economic Forum with theme "Food and Energy Security and Stemming the Tide of Global Financial Crisis" continued at Jakarta has also stressed to foster channels of communication to help address and resolve important economic issues by establishing dialogue through business partnerships among Muslim entrepreneurs as well as between Muslim and non-Muslim business people.
Former Deputy PM , Malaysia stressed the OIC nations to exploit the enormous potential of Halal Food, while stating that the sector had the potential of trillions of US dollars. He further enlighten that Malaysia was making earnest efforts to promote agro-based Industry in country and a mega plant for fertilizers will soon be initiated. He said Egypt as wheat producing country had the potential to maximize its capacity and emphasized the Islamic nations to join hands to meet the deficiency in food. He said that there was an urgent need to take right policy measures to mitigate the effects of global financial crises.While referring success of Islamic Banking in Malaysia , he urged upon the Islamic nations to promote Islamic banking in their perspective countries and appreciated the efforts of Islamic Development Bank in this regard. However, the success of Islamic Banking in the World would depend upon the adoption of harmonization of standard financial procedures.
While appreciating the success of the World Islamic Economic Forums, he suggested that world Islamic Economic Forum Foundation should be accredited as independent consulting organization for Islamic countries.
Mr. Tariq Sayeed former President FPCCI during discussion appreciated Musa Hathim, former Deputy Prime Minister, and Chairman of WIEF for his efforts for making WIEF the most prestigious forum of the Islamic World and broadening its sphere to rest of the World by including non-OIC countries.
Former President FPCCI urged upon the need for promoting the intra-regional investment while regarding it instrumental to enhance trade of goods and services manifold. He said that only domestic support was not sufficient to promote trade to the desired level and added that FDI had served as catalyst for quantum leap in exports of such countries, which had attracted FDI consistently. He cited the example of the growth of Chinese exports during last one decade and termed it as an outcome of inflow of huge foreign diet investment in China . He further said that the exports of China , ASEAN Countries, Pakistan and India had been ranging between $500 million to $1.0 billion in 1951 but today China with exports of more than $1.0 billion had taken the lead and become the 3rd largest export country in the world. He stressed upon the Governments and Private sector of the OIC nations to promote intra OIC investment, if the increase in volume of intra-OIC trade was required to the desired level.
NEPRA KESC PETITION PRESENTED AT FPCCI Helpline Trust, Karachi has arranged a presentation at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on March 2, 2009 on the traders anxiety regarding acute shortage of electricity and long hours load-shading, which has not only left the small industry gasping for breath, but also created a sense of uncertainty in the job market and has badly hurt the businesses of small traders, industrialist, SME's and citizens of Karachi.
Mr. Zakaria Usman Vice President FPCCI chaired the meeting and has showed great agony over the severe shortage of electricity and withdrawal of subsidy on GST on electric charges, which have spiked the cost of production and resulted in widespread closures of small businesses and job losses. He emphasized that lack of direction among policy makers is making things worse. He urged the Government to reduce power tariffs to pass on the impact to consumers and to instruct KESC to cut down load shading. He strongly drew the attention of the Government to this important area, which needs immediate review and urgent solution, before it is too late and the small traders loose their patience and come to street and create Law and order problem.
He thanked Mr.Atiq Mir, Mr. Imran Baghpati, Mr.Hamid Maker, Dr Qazi Ahmed, Capt Moiz Khan Mr. Dawood Jhakura and espacially to Justice (Retd) Shaiq Usmani, who has offered his services for filing petition, to help line trust, and proposed the house that all should support this petition, and implement it and we have provided platform and coordination between helpline trust and business community. The FPCCI cannot be a petitioner, but would provide all assistance if the above petition is filed, and we will continue dialogue with the government and KESC, for removing miseries of consumers of KESC. Mr.Asghar Morawala gave details of steps taken by their committee members in regard to increase in KESC tariff, since October 2008. Mr.Zakaria Usman announced a committee who will take technicalities and then recommend with in week, and then Shaiq Usmani will prepare draft of petition, which will be again discussed in the FPCCI, and decision would be implemented.
It was decided in the meeting by small traders, industrialist, SME's and citizens of Karachi to finally file a petition in Sindh High court against injustice of NEPRA/KESC tariff against small traders, industrialist, and businessmen from Karachi.