Businesses see Uraan’s execution a real test

Businessmen from all strata have welcomed the Uraan Pakistan initiative as a roadmap for reform and transformation, but cautioned that “the real challenge will be its implementation”. “The real challenge lies in its true implementation with a clearly defined action plan,” said M. Abdul Aleem, the CEO of the Overseas Investors Chambers of Commerce and Industry (OICCI)) on Thursday. He recalled that similar plans had been launched in the past, but fell flat because of policy inconsistencies, a limited tax base, a lack of will to reform institutions like the Federal Board of Revenue, delays in phasing out inefficient state-owned enterprises, and an inability to elevate standards of governance.