PBF for ending political uncertainty to spur economic activity

LAHORE: Pakistan Businesses Forum (PBF) on Sunday expressed deep concern over the current economic and political uncertainty in the country. Pakistan first should be our slogan.

PBF President Mian Usman Zulfiqar said politics of confrontation, agitation, violence and protest was not the solution. “Economic matters should be prioritized over political matters, Do not push the country into anarchy.”

He underlined the need for maintaining political stability, saying that it is a prerequisite for sustained economic growth and coping with multiple challenges faced by the country.

Speaking to members of the core committee, President Usman Zulfiqar further stated Pakistan is going through a difficult time as political instability created by one party has cut off domestic and foreign investment, which is a matter of grave concern for the country.

PBF Vice President Jahanara Wattoo said time had changed now, influential nations were paying more attention to financial warfare to continue their dominance.

It is important to increase our exports and for that purpose, we need to reduce cost of doing business so that our products can remain competitive in the international market,” she said. According to Wattoo, trade facilitation is the key to promoting industries and Pakistan needs to remove all obstacles and create a culture of trade facilitation.

Jahanara Wattoo also feared that it will be unfortunate if the top political leaders don’t shrink differences and come on one page saving fragile economy from total collapse in the larger national interests and fails to address structural impediments to exports and foreign direct investment (FDI) because of the grave political instability being witnessed at the moment, she added.

PBF officials urged the top leadership of all mainstream political parties to sit together brushing aside differences to evolve a viable strategy to steer the country out of current worrisome economic crunch plaguing the industry.

Copyright Business Recorder, 2022