Political stability is vital for economic growth, Developer: Iftikhar


SAARC Chamber of Commerce and Industry President Iftikhar Ali Malik said on Sunday that political stability attaches paramount importance to sustained and steady economic growth to face multiple impending challenges.

He said Pakistan’s sluggish economy cannot bear the brunt of political instability and opt for a confrontational policy at this crucial post-Covid-19 juncture.

Addressing a delegation of business leaders led by United Business Group President Zubair Tufail, SAARC’s presiding chamber said political instability was having a negative impact on economic growth and more importantly was further weakening the economy. broken economy of underdeveloped countries.

It is clear from the facts that most of the international actors create such kinds of deplorable situation to achieve their evil designs for their vested interests, he said, adding that it is indeed important to boost exports to the maximum, associated with the ease of doing business. that our products can remain competitive in world markets.

He said that Allah has blessed Pakistan with abundant natural resources and rich mineral deposits which must be fully exploited for progress and development of prosperity.

He said consistency in government policies still mattered a lot and another key factor was a clear roadmap for moving forward. He was of the view that the entire private sector, including the industrial sector, should fulfill their national obligations and play their part in strengthening the economy, while on the other hand, he urged the government to introduce new reforms and to control the smuggling of raw materials and finished products. besides the complete ban on imports of useless items devouring hard-earned foreign currency.

Other prominent members of the delegation included Zafar Bakhtawari, Dr Mirza Ikhtiar Baig, Khalid Tawab, Gulzar Feroz, Shaikh Riaz and Dr Nouman etc.—APP


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