• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Business

Economic Contribution of Trade Organizations Limited in Pakistan: SBP Study

by Suneela Zulfiqar
August 15, 2022
in Business
Reading Time: 2 mins read
Pakistan's economy grinding to a halt as dollars dry up
Share on FacebookShare on Twitter

In Pakistan, the economic contributions of numerous trade organizations, such as associations for various industries, chambers of commerce, and businessmen forums, are not being fully met.

The SBP special section on “Role of Trade Organizations in Economic Growth and Development: Understanding the Dynamics in Pakistan” in the second quarterly report emphasized the significance of effective public-private dialogue in the planning and implementation of economic reforms, particularly in light of the fact that government planning globally has evolved to become participatory, collaborative, and market-oriented.

The public and commercial sectors profit directly and indirectly from the significant market-supporting and market-complementing services provided by TOs. The government of Pakistan has identified Trade Organizations (TOs) as a change catalyst that plays a crucial role in directing economic and governmental policies under Pakistan Vision 2025.

Trade Organizations (TOs) in Pakistan

The most recent figures show that 227 trade organizations, including 12 chambers for small businesses and 21 women chambers, are members of FPCCI.

The main purpose of TOs is to establish a collective platform to influence policy by promoting the private sector’s agenda. The range of tasks they undertake has increased, though. These organizations now do research and development, actively promote technological adoption, and improve the general business environment by offering ADR mechanisms and defending intellectual property rights in an effort to maintain their financial viability and membership.

These chambers and associations offer a host of services to their members. Whereas, advocacy and research are expenditure items on TOs’ financial statements, the services they offer are revenue sources. Accordingly, TOs in Pakistan offer different services to their members. Some organize international trips for members, while almost all offer visa facilitation by issuing referral letters against service fees. TOs have also set up helpdesks to answer members’ queries and accommodate new members, while some provide certificates of origin (COOs).

Business organizations need highly qualified staff if they are to enhance their structure and effectively carry out their duties. The general secretary, a salaried employee, serves as the administrative head of TOs in Pakistan. In some circumstances, there is also a separate training and B2B department as well as a research department.

However, based on personal data, it appears that these departments are understaffed in terms of both the number of people and the level of training and experience of those individuals.

Even while business leaders in Pakistan recognise the lack of market research, TOs in that country also do not generate a demand for research from universities. Businesses are better positioned to drive the industry-academia linkage from the demand side since they are aware of their demands.

Even though some TOs in Pakistan have signed MoUs with universities, they generally do not translate into a regular publication feature or materialize into tangible results. Instead, most TOs in Pakistan are focused on networking and lobbying without providing evidence, thus creating little research demand. TOs in Pakistan are also not active producers of market surveys and benchmarking data.

Tags: Economic ContributionlatestState Bank of PakistanTrade Organizations Limited
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

World Bank report reveals Pakistan's poverty rate inrease to 39.4%

World Bank report reveals Pakistan’s poverty rate inrease to 39.4%

Pakistan is facing a major challenge poverty rates are growing and have reached an all-time high of 39.4%! It was...

Pakistan to discuss long-term Russian oil deal next month

Pakistan to discuss long-term Russian oil deal next month

Pakistan will begin discussions with Russia next month to discuss a long-term agreement for importing Russian crude oil, as the...

Azerbaijan launches direct flight operations to Pakistan

Azerbaijan launches direct flight operations to Pakistan

Azerbaijan's national airline announced today that it will begin direct flights to Pakistan. According to sources, Azerbaijan's national airline, AZAL,...

Gold

Gold Rate In Pakistan Today

Gold Rate In Pakistan Today 23 September 2023 On 23 September 2023, the gold Price for One tola of 24-karat...

Railways to shut down Shalimar Express

Railways to shut down Shalimar Express

Pakistan Railways has decided to shut down Shalimar Express once again due to financial crunch. According to sources, the railway...

COAS Munir meets Saudi counterpart, discusses bilateral security matters

COAS Munir meets Saudi counterpart, discusses bilateral security matters

General Asim Munir, Chief of Army Staff (COAS), met with Saudi Arabia's army chief, General Fayyadh Bin Hamed Al Ruwaili,...

Next Post
PKR gains Rs3.49 against dollar in interbank

PKR gains Rs3.49 against dollar in interbank

Recent Posts

  • Ireland Govt announces Paid Postgraduate Scholarships 2024 for international students including Pakistan
  • Gautam Gambhir expects Babar Azam to shine in World Cup
  • IT Ministry Started Preparations For the Launch of 5G Services
  • Zaka Ashraf included in PPP’s parliamentary board for general elections
  • Petrol Price may go down in Pakistan from Oct 1

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk