Muhammad Ashfaque Paracha, the former Chairman of Nowshera Industrial Estate and Vice Chairman of Pakistan Business Forum (PBF), has assumed the role of Chairman of PBF Khyber Pakhtunkhwa (KP). This appointment, which marks a key change in leadership within the organization, is part of PBF’s ongoing restructuring efforts in the province.
The notification of Muhammad Ashfaque Paracha’s appointment was issued on a recent Saturday and subsequently forwarded to the Chief Secretary’s office. He succeeded Muhammad Atif Haleem as the Chairman of PBF KP.
PBF’s restructuring initiative aims to enhance coordination among various stakeholders and better equip the organization as a prominent advocacy forum. PBF represents one of the largest private sector business groups and conglomerates in Pakistan, and the leadership change reflects its commitment to furthering economic interests and promoting growth in the region.
Muhammad Ashfaque Paracha, the newly designated Chairman of PBF KP, emphasized the importance of economic diplomacy and global outreach for Pakistan’s future. He stressed that economic stability should not come at the expense of military security and human well-being. Paracha believes that the KP province has a pivotal role to play in this regard.
He expressed that the challenges Pakistan faces require a comprehensive national response, with a focus on leveraging diplomatic assets for economic development. Economic diplomacy, according to Paracha, is not merely a catchphrase but a strategic blueprint for aligning diplomatic efforts with the nation’s development agenda.
Paracha underlined the need for Pakistan to shift its diplomatic emphasis from security-centric engagement to harnessing the economic potential of the region for shared prosperity. He noted that fostering increased trade and investment with regional partners is a crucial step toward revitalizing growth and stability.
In the realm of economic diplomacy, key actors include not only the state but also regional organizations, financial institutions, sovereign wealth funds, private enterprises, and non-governmental economic bodies. Paracha stressed the significance of economic security, especially in addressing security threats stemming from economic vulnerabilities.
Furthermore, he highlighted the importance of including top-class economists, sector experts, and internationally recognized figures in shaping Pakistan’s economic policies. Such expertise, Paracha believes, is essential for achieving a mindset shift and embracing a new approach to positioning Pakistan in the rapidly changing global landscape.
In his closing remarks, Paracha affirmed his commitment to calling upon all stakeholders to work together in unity for the betterment of the KP province. He also pledged to appoint a seasoned team in major districts across the province to drive economic development and prosperity.
Muhammad Ashfaque Paracha’s appointment as Chairman of PBF KP signifies a strategic move to advance economic interests and strengthen Pakistan’s position in the global economic arena, with a particular focus on the KP region.
