The Islamabad Chamber of Commerce and Industry (ICCI) has urged the political parties to unveil the economic agenda of their election manifesto for the revival of the economy to achieve sustainable economic growth and prosperity.
The trade body said that it would provide a direction to the business community and investors and help them finalise their short and long-term business and investment plans for the country. Talking to a delegation of traders and industrialists President ICCI Ahsan Zafar Bakhtawari said that less than one month period is left in the next general elections, but most of the political parties have not announced the economic agenda of their election manifesto as yet.
Read: What does 2024 hold for economy?
Ahsan Bakhtawari said that the economy of Pakistan is facing many big challenges as the external debt has exceeded US$124 billion by June 2023, the power sector circular debt has crossed Rs2.3 trillion, the inflation rate surged to over 39 per cent in 2023, which has drastically reduced the purchasing power of the common man and reduced the growth of business activities.
The ICCI president said that the UN’s World Economic Situation and Prospects Report for 2024 has also projected that the economy of Pakistan is confronted with many challenges, including inflationary pressures, currency depreciation, and high levels of sovereign debt.
Published in The Express Tribune, January 15th, 2024
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