LAHORE: President of the Lahore Chamber of Commerce & Industry Mian Nauman Kabir expressed concern over the political instability and feared that it would hit the economy hard so it should not be prolonged.
In a statement, LCCI President Mian Nauman Kabir said Pakistan was currently facing acute economic challenges like mounting inflation, trade deficit, soaring public debt and high devaluation. In this situation, the political instability would hamper the image of Pakistan as an attractive business destination.
He expressed optimism that sanity would prevail while dealing with political issues as economic issues were directly linked with political stability.
Mian Nauman Kabir said that “at present enemies of Pakistan are challenging our integration and sovereignty, political circles should act wisely and show commitment with the country.” “Political circles should lay down their differences in the larger interest of the country and resolve their issues through parliament,” they added.
The LCCI President said the country was facing a huge economic loss. He said that a week of stalled economic activity cost the country around $500 million or $2 billion per month and a weak economy like Pakistan cannot afford even one million dollar loss to exports. He said that at a time when country is facing severe internal and external challenges, the situation is bound to affect the national interests.
Mian Nauman Kabir said that such activities would not only tarnish the image of the country in the eyes of international community but would also hinder economic growth. He said that the leadership of all political parties should join hands for strengthening the economy instead of hatching conspiracies against each other.
Copyright Business Recorder, 2022