Pakistan

Political turmoil may harm national economy

Business forum warns against adventurism that will hit investor trust

Our Correspondent August 16, 2017

A man reads newspaper in the morning. PHOTO: REUTERS

LAHORE: The All Pakistan Business Forum (APBF) - an amalgamation of leading entrepreneurs and business experts - has expressed its concern about the possible economic fallout of the current political uncertainty, if it prevails for an extended period of time.

Urging the country’s political parties to resolve their differences, APBF President Ibrahim Qureshi said the country needed political stability in view of the economic challenges lying ahead.

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“A historic transnational initiative - China-Pakistan Economic Corridor (CPEC) - worth over $55 billion has been undertaken to revolutionise our economy for which Pakistan should have a business-friendly environment for an extended period of time,” Qureshi said while talking to journalists.

“Pakistan has fortunately become a focal place for large-scale foreign investments,” he added, warning “we cannot afford or allow any kind of political turmoil or adventurism that will shake investors’ confidence.”

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The APBF president also highlighted the need for bold decision-making in higher government circles to increase exports and rectify current account imbalances.

“In case of prolonged political unrest, the common man will be the biggest victim and every segment of Pakistani citizens will have to bear the brunt,” he said, adding that political forces should avoid unnecessary confrontation and decide matters through soon-to-be-held general elections.

APBF is a business association which promotes and protects interests of the business community and industries in Pakistan. It also advises the government on policy formulation, regulatory realignments, economic reforms and their implementation.

Published in The Express Tribune, August 16^th, 2017.

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COMMENTS (5)

crook | 6 years ago | Reply You speak Donald's lingo.

Humza | 6 years ago | Reply @Parvez: Maybe you need to read international reports from impartial sources such as Bloomberg's, Standard& Poors, the Economist or the New York Times Financial Reporting. They have all been positive on Pakistan's economic progress which is registered as being highest in the Muslim world. It's the reason why Pakistan was going to be ranked a middle income country and not a developing country by the international markets. As for 4 years of debt, Pakistan's debt means nothing when the groundwork to see the economy take off is there meaning CPEC. Pakistan's debt is very small compared to most countries, even when calculated on a per capita basis. That's why people need to stop this extrajudicial nonsense and wait for elections in order to vote someone they hate out. In Pakistan we let our personal hate of one politician blind us to the importance of the democratic order.