Four days of intense political unrest in Pakistan have left the nation reeling from staggering economic losses amounting to billions of rupees, with devastating loss of life and property. In response, the Lahore Chamber of Commerce and Industry (LCCI) has issued a compelling plea to all political parties to prioritise the revival of the national economy by setting aside their differences and uniting under a comprehensive Charter of Economy.
According to economic analysts, the ongoing political unrest has resulted in an estimated loss of over Rs10 billion to the country’s economy, dealing a severe blow to multiple sectors, including manufacturing, tourism, and services.
LCCI President Kashif Anwar’s urgent call for unity emphasises the need for a cohesive and concerted effort to address the economic challenges at hand.
The proposed Charter of Economy aims to attract foreign direct investment (FDI) and promote local investment as key drivers of economic recovery. The Charter will encompass a range of strategic measures, including policies to enhance the ease of doing business, establish investor-friendly regulations, develop robust infrastructure, and foster a conducive environment for domestic and international investors.
The LCCI president’s plea for political parties to unite under the Charter of Economy is based on the understanding that the stability and prosperity of the nation depend on collective action and shared responsibility. By putting aside partisan interests and focusing on the well-being of the economy, it is hoped that political leaders will pave the way for a brighter future, ensuring stability, progress, and prosperity for all citizens.
Published in The Express Tribune, May 14th, 2023.
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