Pakistan

War against terror put economy into shambles: Zardari

Zardari blames previous government for the suffering of the public.

Faryal Najeeb October 06, 2010

KARACHI: Pakistan has suffered immensely due to the war against terrorism and the nation’s economy is in a shambles due to flight of investment by foreigners, said President Asif Ali Zardari on Tuesday.

Addressing the 34th Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Awards at the Governor House, Zardari said that businessmen should support the government by understanding the challenges it is facing, adding that it is trying its best to facilitate investors by providing them the best infrastructure and incentives.

He stated that the government is also doing its utmost to tackle economic issues such as gas and power shortages. In addition, the floods devastation has also pushed the economy back. Zardari said that “the level of aid provided by foreign countries highlights the trust other countries have in Pakistan and its government.”

The president also blamed the previous government for the challenges the country is facing, adding that “bad governance by the previous leader led to the entire nation having to pay the price for his mistakes.”

Commerce Minister Makhdom Amin Fahim said that a high-level convention, in which all Pakistani consulates and its representatives will be asked to discuss measures to improve the image of the country and trade with other nations, is being planned.

He said that the ministry is working on increasing trade levels with non-traditional markets and several steps have been taken towards that end. Referring to the awards programme, Fahim said that the ministry of commerce encouraged such events as they help to boost the image of local industries at an international platform.

President FPCCI, Sultan Ahmed Chawla, highlighted the problems facing businessmen and stressed that they should be taken into confidence when key decisions are made about the running of the economy. Mehtabuddin Chawla, the CEO of al Karan Towel Industries Pvt Limited, won the President of the Year Award while the Best Businessman of the Year award went to M Ghaffar Chaudhry. Seventy other awards were given.

Published in The Express Tribune, October 6^th, 2010.

COMMENTS (4)

Sultan Ahmed. | 14 years ago | Reply As a human being, it is our duty to admit the reality and the circumstances relating to or behind the it. It would be correct, when I say our economy has been stranded in the flood water that is worst ever in the history of the country. On the other hand, growing insurgency inside and the tribal areas also put our economy at stake. What we are doing in such circumstances fight each other, Bar with bench,institution against institution, and creating law and order situation, now the province has come into the battle ground on the Dam issue. In case, the present government is changed the problems will never solved, such as insurgency and floods effected people's problems as regards, corruption,it will remain our blood , for changing it,will have change our nature,who will do it,only God. Don't put the democratic system at stake, let the present government do what he want to do in respect of the problems, let it fulfill its obligation and the remaining period it is better for democracy if you want democracy in the country. Undemocratic and unconstitutional change would take the country at the brink,be considered with sympathy and wisdom.

Natasha | 14 years ago | Reply bombed back into the stoneage

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Dajjal | 14 years ago | Reply This pointless war on terror has put enormous strain on the Pakistani economy and not left the govt any money to steal.. that's why they need aid... so that this govt's current stint wont be a total failure and BB wouldn't have died in vain.

Asim Ali | 14 years ago | Reply Right and lets not blame 2. Adnan Khawaja a matriculate who was given the charge to run OGDCL 3. A real estate agent trying to run the Power Ministry 4. The steel mills fiasco 5. A pilot trying to run a corporate entity known as PIA 6. Another pilot running CAA 7. A mechanic who has been made the head of Engineering development board 8. Write off of 55 billion loans 9. Ijaz Butt bringing disrepute to cricket 10.The Minister running off with the flag at CWG What have the above got to do with war on terror or floods?

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