PBC should also represent medium and small businesses
Islamabad: [May 01]
The Pakistan Economy Watch (PEW) on Sunday said Pakistan Business Council (PBC) should have representation of medium and small businesses to allay fears of the business community.
PBC comprises of super rich business tycoons enjoying influence in political circles that have raised concerns among the already distressed business community, it said.
Many business leaders fear that the influence of country's leading businessmen can result in a compromise over their interests among those who matter, said Dr. Murtaza Mughal, President PEW.
Therefore, he added, the trading community feel formation of PBC was contrary to the interests of those who own small and medium sized businesses.
He said that many trade leaders have alleged that there could be a distance between cited objectives of the PBC and their real intentions.
Office bearers as well as members of the PBC were already part of most influential groupings in Pakistan. Establishing another association is something the businessmen are unable to digest, he said.
Dr. Murtaza Mughal said that is generally conceived that PBC has been formed to get hold of some of the national industrial assets in the name of the ongoing controversial privatization.
It is perceived that the urban elite, like rural elite, has nothing to do with national interests; they just want economy to open more which will add to their windfall.
There is no example in the world's history where opening of economy has not opened floodgates of corruption adding to the plight of the poor.
PBC should also include business leaders as well as small and medium businesses in their ranks for smooth working and counter what they may call misgivings, said Dr. Mughal.
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Dr. Murtaza Mughal
Cell: 0321-5157671
President Pakistan Economy Watch
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