Business community urges all political parties to sit together for country’s economy

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The business community Sunday 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.

Talking to a delegation of industrialists and traders led by President Pakistan Furniture Importers Association Mian Faryad Ahmad Raza, the Coordinator to Federal Tax Ombudsman and Minister of State Meher Kashif Younis said the deepening political turmoil is one of the major factor responsible for economic instability as depreciation is taking heavy tool on stock investors, currency markets crying out for dollars amid liquidity crunch and recording the highest ever weekly inflation spike.

He said due to domestic political upheaval, a surging current account deficit amid depleting dollar inflows from multinational and bilateral lenders as well as shrinking foreign investments have brought the foreign exchange reserves and rupees under enormous pressure over the last several months.—APP

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