KARACHI: There is a dire need in keeping harmony between the government and political parties to keep going the economic development on sustainable grounds.
Saner elements of both sides should realise that Pakistan has been struggling on more than one count on economic front but at the same time people-in and outside of the government should keep in mind that any diverse approach could harm the ongoing economic development in the country.
The parties should ensure the most favourable environment for business-growth as our economy cannot afford or allow any kind of political turmoil or adventurism, to shake the international and domestic investors’ confidence.
Presently, country has become the focal region for large-scale foreign investments. A transnational initiative-China Pakistan Economic Corridor worth over $55 is billion in underway.
We should not stop this pace of enormous economic activity that would definitely transform our economy into giant-‘economic prospering nation’.
The leading export oriented sectors and progressing export sectors of the country have expressed their concern about the possible downbeat in economic progression journey besides impact of possible political conflict if arises with unwise decisions of any of the partner in political arena.
“Conflicts on different issues are natural but everyone should think that if such conflicts prevail for an extended period of time, this should not be any better for the economic well being of the country’.
Agha Saiddain, Ghulam Rabbani, Ibrahim Qureshi, Shakeel Ahmad, Sanaullah Khan and Qamar Qureshi, executives of prime export sectors-tanning, textile, business forum, agriculture sector, marble and minerals, economic forum and others segments of trade and business have observed portraying bettering security perception and political stability would prove results as this would enhance foreign investment.
The business community has urged the political forces to resolve their differences, to ensure peace, stability and economic growth in the country.
Pakistan desperately needs bold-decisions to accelerate progress on multiple internal and external fronts, especially increase in exports and decrease in imports. In case of prolonged political-unrest, the common man will be the biggest victim, while every segment of Pakistani citizens will have to bear the brunt.
Pakistan’s political forces need to avoid unnecessary confrontations and let the democratic process run smoothly, to enable transparent and peaceful General Elections in around June 2018.
Dr Hafiz Pasha an economist had opined on a forum, “Ongoing political turmoil does not augur well for the economy, democracy and developmental-indicators in every sector”.
The country fetched $2.41 foreign direct investment during July-June 2017, compared to $2.305 billion in same period of last fiscal year, depicting an increase of $105.6 million.
The global economic outlook is also positive, despite a slight drop in confidence, compared to the last couple of years, according to Global Economic Conditions Survey.
Published in Daily Times, August 16th 2017.