Political instability can derail economy
The global body says the Covid-19 pandemic has already reduced developing countries' financial leeway and increased their debt. PHOTO: FILE
The escalation of geopolitical tensions and domestic political conditions can hamper the positive outlook for Pakistan’s economy and they might also aggravate the macroeconomic imbalances, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir.
Citing a report in a statement on Tuesday, he expressed grave concerns over the growing risks for economy.
He stressed upon all stakeholders to take stock of the precarious situation and work to promote political stability in the country which played a fundamental role in setting the pace and direction of the economic development.
“Political stability is one of the key requirements to create a favourable environment for business and economic activities in the country as it facilitates investments to stimulate economic growth and job creation,” he said. “All stakeholders should join forces and play a role to restore political stability in Pakistan which will improve the confidence of the business community and investors in the economic outlook of the country.”
Published in The Express Tribune, March 30th, 2022.
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