The All Pakistan Business Forum (APBF) is preparing for a conference to discuss; ‘The impact of violent extremism on Pakistan’s economy’ to find effective solutions for this dilemma by exploring the potential of private sector’. APBF is a vibrant business association, with representation from numerous industries and business-sectors. It promotes and protects the interests of the business community in Pakistan and also advises the government on; policy formulation, regulatory realignments, economic reforms and implementation, to ensure better quality of life for the common citizens.
The President of APBF – Mr. Ibrahim Qureshi stated that; “Extremism and violent crimes are menaces that have affected Pakistani society, more than any other country. APBF is seriously concerned and committed to overcome the negative impact of extremism on our society. The violent attacks on the business-centres, military establishments, public places, educational institutions, hospitals and recreational places are taking innocent lives and destroying valuable properties, with a debilitating effect on the socio-economic activities and investments across the country.”
During FY 2014-15, Pakistan government formulated a joint inter-ministerial group to workout the cumulative cost impact of extremism on economic development, over the last 15 years, since the 9/11 attacks in the USA. Economic Survey of Pakistan 2014-15 reported that the economy has incurred US$106.98 Billion (Rs. 8.7 Trillion) in direct and indirect costs, owing to violent extremism. The rise of violent extremism disrupted Pakistan’s economic and trading activities, resulting in higher costs of business with reduced and delayed productivity. As a result, Pakistani products have gradually lost their global market share.
This will be the first-ever conference being held by the APBF to address the issues and meet the challenges arising from violent extremism, through insightful deliberations and wisdom-sharing exercises. A large number of industrial leaders and prominent entrepreneurs have expressed their interest in attending the forum and enriching the discussions with their expertise and vast experiences.
