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KARACHI: Industrialists and traders of Karachi on Thursday called for adoption of a “charter of economy”, saying the national economy cannot afford sit-ins and protests at any cost.

Speaking at a press conference at the offices of Korangi Association of Trade and Industry (KATI), they said that national integrity should be the first priority of every stakeholder.

On the occasion, KATI President Faraz-ur-Rehman said that a campaign is being run against the Pakistan Army under a planned conspiracy at a time when the economy is facing difficulties due to a global economic crisis.

In the contemporary world, he said, countries are no longer subjugated through wars but through Fifth Generation Warfare, whereby a conspiracy is hatched to destabilise a country economically.

In the current situation, the enemy wants to bring Pakistan to the brink of destruction by campaigning against the Pakistan Army, claimed Faraz-ur-Rehman, adding that the economy cannot afford sit-ins and protests.

He said that the ‘charter of economy’ should be announced immediately so that the economy is made stable.

Chairman of the Sindh chapter of UBG Khalid Tawab said that Saudi Crown Prince Muhammad bin Salman will visit Pakistan soon. Before his visit the country’s political and economic conditions must be stabilised; otherwise Pakistan will be disgraced at the international level.

He said that Pakistan Army played a very important role in ensuring that Pakistan is removed from the FATF’s ‘grey list’. The business community is firmly standing beside the army.

He said that the proposed ‘charter of economy’ should be adopted for 10 to 20 years, which all political parties should follow.

Pakistan Stock Exchange Director Ahmad Chinoy said that the country is paying a huge price for instability. It is everyone’s right to protest, but protesting when the country’s economy is at stake threatens the very integrity of the country.

He urged all political parties and stakeholders to sit at one table and solve the outstanding problems through reconciliation so that the country’s economy is not damaged.

Zubair Chhaya, the CEO of Kite Limited, said that the world is struggling due to the global economic crisis and Pakistan is not economically stable enough to withstand the crisis. “This is the reason why the country’s economy is in decline; industries are closing down, there is a shortage of gas in the country and electricity is not available at a reasonable price,” he remarked.

Chaudhry Sohail of the Federal B Area Association of Trade and Industry, Jameel Paracha of the Sindh Tajir Ittehad, Sharjeel Goplani of the Karachi Tajir Ittehad, and representatives of other town associations and small traders said that the country’s economy is on a ventilator. The difficulties are increasing by the day due to the economic crisis.

In such a situation, an ‘economic emergency’ should be imposed in the country, they said. The businessmen will hold a peaceful demonstration to support and show solidarity with the army if the ongoing campaign against it is not stopped.

They said that all the stakeholders should sit at one table, show a spirit of cooperation, prioritise national integrity, forget all their differences and unite in the interest of the country and implement the ‘charter of economy’ while thwarting the enemy’s conspiracy. A long-term economic policy is indispensable for Pakistan, otherwise the country will face serious crises like Sri Lanka, Libya, Syria and Iraq.

Copyright Business Recorder, 2022

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