Political stability vital for economic growth, dev: Iftikhar


President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik on Sunday said that political stability attached paramount significance for constant sustained economic growth to confront with the impending multiple challenges.

He said that Pakistan’s bleak economy can not bear the brunt of political instability and go with politics of confrontation at this crucial juncture of time of Covid 19 aftermath.

Taking to a delegation of trade leaders led by President United Business Group Zubair Tufail, the President SAARC Chamber said political instability cast negative impact on economic growth and especially it further weaken the shattered economy of under develop countries.

It is vividly evident from the facts that mostly international players create such types of sorry state of affairs to achieve their nefarious designs for their vested interests, he said adding, it is indeed important to bolster exports to maximum extent coupled with ease of doing business so that our products can remain competitive in the global markets.

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

He said consistency in the government policies always mattered a lot and another key factor is a clear roadmap to move forward,. He was of the view that entire private sector including the industrial sector should discharge their national obligations and play their role in strengthening the economy while on the other hand, he urged the government to introduce afresh reforms and control the smuggling of raw material and finished goods besides clamping complete ban on imports of unnecessary items devouring hard earned foreign exchange.

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