AllWorld Network, an organization working for promotion of entrepreneurship in developed and developing countries, launched “Pakistan Fast Growth 25” here today in collaboration with Islamabad Chamber of Commerce & Industry . NGOs, business & media representatives attended the launching ceremony.

The purpose of this program is to find the fastest growing private companies in Pakistan. The winning companies will be ranked according to their revenue growth between 2006 and 2008.

Addressing the event, Mr.Zahid Maqbool, President, ICCI said that Pakistan has immense potential for promoting business enterprises as it has a very young and talented manpower along with an ever increasing market for goods and services. But there are many challenges being faced by the entrepreneurs in Pakistan.

He said non-availability of business friendly environment, lack of financing facilities, high credit cost, insufficient support and guidance, inconsistent government policies, energy shortage and very high power tariffs etc. are some of the major challenges that have made things difficult for entrepreneurs and enhanced cost of doing business in Pakistan.

He said government should take urgent measures to address these problems for smooth growth of entrepreneurship. He said promotion of entrepreneurship will create multiple benefits for the country as it will create jobs, promote business activities and generate more tax revenue for the government.

Mr. Anne Habiby, Co-founder of AllWorld Network said that the “Pakistan Fast Growth 25” companies led by dynamic men and women, represents a new future of the country. He said we are honored to be working with JS Bank and other partners to put Pakistan’s fast growing entrepreneurs on the global radar screen.

Mr.Rehmatullah Javed, Chairman, FPCCI SMEs Committee said that this initiative of AllWorld Network will highlight the role of private sector in generating new ideas, new jobs and new industries.

JS Bank representative said that we need to find and support new business leaders because they are the future of Pakistan’s economy.

Mr.Malik Ahmad Jalal, Director of Pakistan Fast Growth 25 said that the solution to Pakistan’s economic challenges lies not in foreign lands, but in the entrepreneurial talent of its own citizens.