Interview with Mr Ahmed Chinoy – a renowned businessman
[box type=”shadow” align=”” class=”” width=””]Profile:
Mr Ahmed Chinoy is a businessman by profession and social activist by nature. Being in his profession for over 25 years with a vast experience and knowledge, he is associated with the textile industry since the beginning of his career. His business has diversified into more categories that are Construction Development, Project Management and Controlled Poultry Farms. He has served as the Citizens-Police Liaison Committee (CPLC) Chief for over six years and is associated with multiple NGOs working for the betterment of the country in different fields such as health, law and order situation, education and other departments. This work has led him to be the recipient of two highly prestigious National Awards: Sitara-e-Imtiaz and Hilal-e-Imtiaz. He is currently serving as the Director of Pakistan Stock Exchange.[/box]
PAGE: How do you see the economic progress of Pakistan currently?
Ahmed Chinoy: The economic progress is currently moving at a slow pace, however, good policy decisions and betterment in the political environment can help boost the economy. Pakistan needs to have a turnaround in exports. Once we become an export-oriented economy, our all conundrums would come to an end. The primary concern for our economy has always been the twin deficits. It has become vital for our economy to ensure that exports soar and budget deficit retreats which would bring about turn around in the economic activities. Pakistan, undoubtedly has got enormous potential in terms of manufacturing and exports. The only glitch is to strike the right nail and provide enabling business environment.
PAGE: Could you tell us about the business environment in Pakistan?
Ahmed Chinoy: The business environment is much better than the previous years and with relaxation in some areas, we can see a healthy growth in the business sector. Pakistan’s image in terms of doing business is fast improving across the world. Doing business in Pakistan has beefed up relatively and there is every likelihood that Pakistan’s economy would be one of the foremost economies in the world in the not-too-distant-future. Proper regulation helps business activities hike. Restraints on shadow banking and shadow markets has helped myriads of economies globally. It is the job of the government to make sure that regulation is not stifling rather boosting so that employment generation is there to help youngsters get employed. Gwadar is the key to economic prosperity, regional connectivity and maritime development for Pakistan through increased businesses, job opportunities, foreign investments and tourism.
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PAGE: Could you give your views on the investment potential in multifarious sectors of Pakistan?
Ahmed Chinoy: Oh! the investment potential is huge in Pakistan. Pakistan is still the land of opportunities with many areas still unexplored. Be it real estate or textiles, there are various opportunities for investments. Let me tell you Pakistan is on the radar of the global investors. There is every likelihood to believe that there would be massive investment in Pakistan provided that we are ready for it and are there to provide the opportunities to those who are eyeing Pakistan as one of the best markets in the wake of its strategic location, emerging economy etc.
PAGE: What must the incumbent government do to encourage the business community?
Ahmed Chinoy: The government should sit with the business community and create a liaison in between. New strategies shall be implemented to create a healthy working environment. The government policies have not been business-friendly lately but there are many ways to improve those policies and give relaxation and free hand to the businessmen. With the emergence of global supply chain, efficient trade logistics is the key, Pakistan seeks to enhance its national transportation infrastructure by establishing an efficient and integrated transportation and logistics system for strengthening the transportation network and logistics infrastructure.
Since the beginning, Pakistan has been indulged in providing facilitation to exporters through service providing companies mainly in the trade division. Trade facilitation is an important tool for improving the competitive edge of a country in the international market place. Every trade transactions success lies in achieving in-time delivery within the shortest possible lead time and at the least cost of doing business. This requires adoption of trade facilitation measures with cooperation and coordination of all the concerned parties. Logistics and trade facilitation companies in Pakistan have been effective in providing facilities and enhancing trade competitiveness.