Political upheaval to dent economy
Businessmen have expressed concern over the political instability, fearing that it will deal a blow to the economy. In a statement on Monday, Lahore Chamber of Commerce and Industry (LCCI) President Mian Nauman Kabir said that Pakistan was facing acute economic challenges such as mounting inflation, trade deficit, public debt and massive currency devaluation. “In such a situation, the political instability will hamper the image of Pakistan as an attractive business destination,” he said. “Economic issues are directly linked with political stability.” He urged the political circles to shun their differences in the larger interest of the country and resolve their issues in parliament. The LCCI president said that the country was facing economic losses as “a week of stalled economic activity costs the country around $500 million in exports and it cannot afford even $1 million loss.”
Published in The Express Tribune, April 5th, 2022.
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