Un­lock­ing the true po­ten­tial

Boost­ing Pak­istan's pri­vate sec­tor

Enterprise - - Front Page -

The Amer­i­can Busi­ness Coun­cil of Pak­istan (ABC) func­tions as the Cham­ber of Com­merce of Amer­i­can busi­nesses in the coun­try. It is one of the largest groups of sin­gle coun­try over­seas in­vestors in Pak­istan. ABC has com­pleted 27 years in Pak­istan and has played a ma­jor role in serv­ing as a bridge be­tween Pak­istan and the United States.

ABC is af­fil­i­ated with the Fed­er­a­tion of Pak­istan Cham­bers of Com­merce and In­dus­try (FPCCI) and is a mem­ber of the U.S. Cham­ber of Com­merce (USCC), Washington D.C., and Asia-Pa­cific Coun­cil of Amer­i­can Cham­bers of Com­merce (AP­CAC). ABC also has a close work­ing re­la­tion­ship with the US-Pak­istan Busi­ness Coun­cil, Washington which is a com­po­nent of the USCC.

ABC is an ef­fec­tive chan­nel for di­a­logue with the Govern­ment of Pak­istan. Reg­u­lar sug­ges­tions and in­puts for im­prove­ment are pro­vided to rel­e­vant bod­ies such as min­istries, reg­u­la­tory and tax au­thor­i­ties, etc. The fo­cus of the Ex­ec­u­tive Com­mit­tee is to en­sure that ABC’s sug­ges­tions are in­cor­po­rated in the an­nual Fed­eral Bud­get and Trade Pol­icy. The 2011-2012 Trade Pol­icy car­ries ABC’s pro­pos­als such as im­prov­ing the in­vest­ment cli­mate, en­cour­ag­ing exports and low­er­ing cost of lo­cal in­dus­tries, stan­dard­iza­tion of im­port pol­icy and in­dus­try spe­cific pro­pos­als.

The Coun­cil also fa­cil­i­tates di­rect in­ter­ac­tion with the fed­eral, provin­cial and city gov­ern­ments through its guest speak­ers pro­gram, sem­i­nars and events, all of which are aimed at sus­tain­ing an on­go­ing di­a­logue.

The 66 mem­bers of ABC are mainly For­tune 500 com­pa­nies that oper­ate in var­i­ous sec­tors i.e. health­care, fi­nan­cial ser­vices, in­for­ma­tion tech­nol­ogy, chem­i­cals and fer­til­iz­ers, en­ergy, FMCG, food and bev­er­age, oil and gas and oth­ers. Mem­ber com­pa­nies con­trib­ute a siz­able amount to the national ex­che­quer ev­ery year. Nearly Rs. 57 bil­lion was paid in 2010 as di­rect and in­di­rect tax. ABC mem­bers em­ploy over 55,500 peo­ple di­rectly who sup­port 220,000 de­pen­dents and in­di­rectly em­ploy nearly one mil­lion peo­ple

Aus­tralia A$ 6 Bangladesh Taka 65 Bhutan NU 45 Burma KK a10 Canada C$ 6 China RMB 30 France Fr 30 Hong Kong HK$ 30 In­dia Rs. 65 Ja­pan ¥ 500 Korea Won 3000 Malaysia RM 6 Mal­dives Rf 45 Nepal NcRs. 75 New Zealand NZ$ 7 Pak­istan Rs. 100 Philip­pines P 75 Saudi Ara­bia SR 15 Sin­ga­pore S$ 8 Sri Lanka Rs. 100 Thai­land B 100

UAE AED 10 UK £3 USA $ 4.99

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