Voicing concern: Political instability taking the economy down

LAHORE: LCCI President Ijaz A Mumtaz and Senior Vice President Mian Nauman Kabir have urged politicians to try and not disrupt the private business sector and instead work towards making their operations smoother for the well-being of the country’s economy.

They said that the business community had always fulfilled its national obligations by showing commitment towards the economy but recent developments, including sit-ins and mass protests, have made work difficult for it.

They added that Pakistan’s economy needed a growth of more than 7% at a sustained level for another eight to 10 years if it wants to catch up with the other regional economies and such calls were bound to disrupt economic activity.

The office-bearers said that LCCI was striving to expedite trade and economic activities through interaction with local and foreign businessmen but political uncertainty pushed things back. They said that all the issues could be resolved through talks, adding that the protesting parties should adopt the same path for an early solution.

“It would take a long time to for the loss to recover.”

They were of the view that the call for strike had also sent a negative signal to foreign investors, while causing a severe dent to the efforts aimed at attracting such investments.

Published in The Express Tribune, December 2^nd, 2014.

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Posted by News Pakistan Admin on Dec 1 2014. Filed under Latest News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry