SCO event: businesses voice concern over govt’s market closure decision

LAHORE: The traders on Saturday expressed serious concerns over the consecutive three-day closures of markets and commercial activities in the capital ahead of Shanghai Cooperation Organization (SCO) Summit, as the halt in commercial activities to give bad impression to the visitors of the mega event.

Chainstore Association of Pakistan has called upon the government to allow businesses to operate during this significant event, emphasizing the need to balance security with the socio-economic well-being of the people.

CAP Patron-in-Chief Tariq Mehboob Rana and Chairman Asfandyar Farrukh, observed that the while the importance of hosting the SCO Summit is recognized, but highlighted the potential negative impacts of a complete closure on local communities and the economy, as hundreds of thousands of workers will be affected due to closure of the businesses during these days.

Tariq Mehboob pointed out that the imposed restrictions would prevent many children from attending school, depriving them of precious learning opportunities amidst an education emergency declared by the honorable Prime Minister just a few weeks ago.

Farrukh pointed out that the likely 5-day closure of commercial and industrial activities during this period will lead to massive financial strain for tens of thousands of businesses and countless members of the workforce, particularly affecting daily wage workers who depend on steady employment. He also shed light on the multifaceted challenges already faced by businesses in Pakistan, emphasizing the necessity for a collaborative approach, inclusive policy-making, and responsive governance to alleviate the burdens on the business community.

The business leaders underscored the importance providing a cohesive and clear framework for economic policies, offering stability and guidance to businesses facing uncertainties. He mentioned closures resulting from political rallies, electricity crises, smog, and security concerns.

Rana Tariq stressed the unity among stakeholders and the government, especially in formulating an economic agenda that could serve as a comprehensive guide.

They observed that the government policies were being formulated without due consideration for input from relevant stakeholders within the community. This echoed a sentiment calling for a more inclusive and collaborative approach to policy-making.

Traders from the retail market underscored their vital role in the economy and expressed a commitment to continuing this role. However, they called upon the government to attentively listen to their issues and earnestly work towards resolving them.

Copyright Business Recorder, 2024