Only ‘charter of economy’ can save country from default: speakers

LAHORE: Speakers at a meeting termed the political cohesion and trust building as essential to get the economy back on track besides signing of a ‘Charter of Economy’ by all the political parties.

The consensus was developed at the meeting arranged by the Lahore Chamber of Commerce and Industry (LCCI) here on Tuesday.

LCCI President Kashif Anwar, Adviser to CM on Home Affairs and former governor Punjab Omer Sarfraz Cheema, IG Prison Malik Mubashar Ahmad Khan, Advisor to CM Punjab Interior Affairs and Prison Samina Khawar Hayat and Vice President LCCI Adnan Khalid Butt also spoke on the occasion.

Speaking at the meeting, LCCI President Kashif Anwar noted that political instability and a lack of trust are two main obstacles preventing the country’s economy from growing and resultantly even the friendly nations are no longer ready to fund our economy because of the country’s political unrest.

He said the problems will not be resolved until all the political parties sign a ‘Charter of Economy’. The business community should be taken on board while formulating businesses-related policies, he demanded.

He said that the Lahore Chamber of Commerce and Industry was ready to host an exhibition of the products manufactured by prisoners in collaboration with the prison department. He said members of the Lahore Chamber of Commerce and Industry will be asked to pay fine of the prisoners.

Advisor to CM Omer Sarfraz Cheema alleged that the country was going to default. Despite the fact that the resources were same eight months before and now, he claimed that there was a significant difference in the GDP ratio. He claimed that today, even in cities like Faisalabad, industries were shutting down and that unemployment is rising.

“Our agenda is economy, not politics,” he said and added that we can wait for the elections till November of next year but the economy cannot wait. He said that the political instability is hitting the economy hard and the government has no direction for the economy.

Copyright Business Recorder, 2022