With austerity alone we can overpower inflation

Mr Zafar Razzaq Durrani is a renowned and illustrious businessman from Balochistan. He enjoys great respect and repute among the business circles. He has been recently elected as the Vice President Quetta Chamber of Commerce & Industries (QCCI). Jahangir’s World Times (JWT) had a special session with him on the problems of the traders, industrialists and business community of Balochistan. He tersely elaborated the causes that thwart their progress and the role of QCCI in resolving them.

Jahangir’s World Times (JWT) : Please tell us something about your education and your entry in the business world.

Zafar Razzaq Durrani (ZRD) :    I did my masters in Political Science after which I embarked upon my business career by launching a travel agency. I contested the recent QCCI elections and by the grace of Allah Almighty and support of business community coupled with their trust in me, I was elected as the Vice President (Corporate Class) of QCCI.

JWT: In your opinion, what role the QCCI is playing for the uplift of the business enterprises?

ZRD: The QCCI is an apex body representing the business community of Quetta. All the matters and issues related to our industries and businesses are presented to the government through QCCI as it represents the collective voice of the whole business sector. Besides, we are also relentlessly working to project our business at the international level. We help and guide our members in obtaining visas of foreign countries, solve their tax issues, etc. We also play our due role if there arises any conflict between our members and any foreign company, they are dealing with. We also encourage our businessmen to participate in international trade exhibitions and facilitate them, in every possible manner, in this regard.

JWT:    What are your views on the inflation in Pakistan?

ZRD:    The inflation is a phenomenon that hampers the economic growth of a country. So, it needs austerity on part of the government.  Unfortunately, in the present regime, the expenditures are far more than the revenues. Therefore, to overcome the deficit, government resorts to printing fresh currency notes, which, in turn, results in a price hike in consumer products. This creates multidimensional problems for the common citizens. The government should adopt measures to control it. It is a very technical matter and needs a lot of thoughtful planning.

JWT:     What are the major problems which the business community is facing in Balochistan?

ZRD:    The biggest problem, in my view, is that our businessmen are treated at par with those of Karachi and Lahore. Due to poor and constantly deteriorating condition of law and order in Balochistan, the business prospects are quite bleak. In the present circumstances, the growth of industrial sector has nearly touched the zero level and is at the lowest. It is the need of the hour that the federal and provincial governments both address our issues and the provision of infrastructure in the industrial estate in Quetta and Balochistan should be the first step in this regard.

JWT:    To which extent the law and order situation affects the business sector?

ZRD: The prevailing law and order situation, especially in Balochistan, is a great hindrance in industrial development and growth. Besides, majority of our members are involved in trade with our neighbours; Iran and Afghanistan. The high rate of taxes also is frustrating the economic development in Balochistan. The migration of settlers from Quetta has also caused great loss to the trade concerns. Along with a host of other factors, the prevalent law and order situation in Balochistan, especially in Quetta, is playing a major role in thwarting the trade and business activities here. This phenomenon has caused adverse effects on the business and trade activities. It is the high time that the authorities and law enforcing agencies play their due role to stop dacoities, kidnapping for ransom, target killings and other heinous crimes.

JWT: As you know that the next budget is going to be presented soon, what are you expecting from it?

ZRD: We have very high expectations from the upcoming budget. We hope that it will be a people- friendly sort of budget in which government should cut some direct taxes and give a relief to the people in general, and the business community in particular so that they may run their businesses. As the growth of the business sector can only make a country economically strong.

JWT:    Any other thing you would like to say from the forum of JWT?
ZRD: I would like to say that the QCCI is working diligently to solve the problems of the business community and is acting as a bridge between government and the entrepreneurs. If our businessmen have any kind of problem, they should tell us. We assure that, we will take every step to have it resoled as early as possible.