Talking to Business Recorder, Sajjeed Aslam maintained that the incumbent PTI government has yet to present an integrated plan for the next 5-10 years which should be based on policy directions. "Currently, economic policies presented are in isolation, does not help business community to develop confidence and trust for their long-term investment strategy," he said. "They need to focus on long-term robust economic model which provides clarity around government specific priorities, well-integrated and related interventions. Such a plan should be the base of developing public opinion and political consensus on the Charter of Economy."
Emphasizing the need for 'Charter of Economy,' he said political parties should not engage in point scoring on economic issues. "In the next three months, the PTI government must bring out a well-articulated document on Charter of Economy, defining the timelines and roadmap of progress and that should be implemented in letter and spirit by all the stakeholders," he asserted.
Sajjeed Aslam further said that the role of planning commissions across the provinces and at federal level should be strengthened to develop, monitor and implement an aligned economic plan for the next 5-10 years. The ACCA is working with likes of SDPI, PBC, universities and other think tanks of Pakistan to mobilise private sector to contribute intellectually in policy formation and maintain optimism.
Answering a question, he said, "The PTI's government 100 days agenda is not bad but execution, integration and visibility of impact of the agenda are yet to be seen. We cannot rely on micro issues rather we have to bring macro level steps for revival of large scale industrial sector for next 3-5 years." He added that the government must have laser focus on ease of doing business, talent development, technology deployment and above all work ethics.
According to him, revolution in technology and internet has offered a new opportunity for finance and accounting professionals by allowing them to attract jobs to Pakistan and deliver through internet. Pakistan can leverage its position in finance and accounting area and make the country a "preferred destination for finance and accounting resources and outsourcing" in next couple of years.
He believes Pakistan has potential to export services worth over $3 billion only from this single segment. Philippine and Poland has built critical mass of talent in specific areas like call centre, engineering etc. Philippine exports over $26 billion only through their call centre industry.
Talking about the Belt and Road Initiative, Sajjeed Aslam said there are six economic corridors and the China-Pakistan Corridor is one of it with five priorities - unimpeded trade, policy coordination, financial integration, people-to-people bonds and connecting infrastructure. This initiative is aimed at transforming from "Made in China' to 'Built by China." BRI entails close to $1 trillion investment and connecting 4.4 billion people over six corridors.
Pakistan has made significant headway with CPEC and through collaboration and engagement with Chinese company, local businesses should focus on capacity building, knowledge and technology transfer become strategic partners for projects outside Pakistan.
There is a role government has to play in terms of policy formulation, transparency, engagement of local businesses and there is a role where our people have to play by upskilling of talent, developing international growth strategy for their businesses and raising required capital using PSX or otherwise and getting ready to ride the wave of growth, he added.
According to him, CPEC opportunities can be reaped by timely developing special economic zone across Pakistan with clear focus of proximity of related industry segments in each zone to influence an ecosystem.