RAWALPINDI: Chief of Army Staff (COAS) General Qamar Javed Bajwa has informed some of Pakistan’s most prominent corporate figures that the country’s “improved internal security environment” has “created space for increased economic activity”.
In a press statement released on Thursday regarding the dinner reception hosted by the army chief in honor of Pakistan’s top corporate executives following the concluding session of a series of discussions and seminars titled ‘Interplay of economy and security’, the army’s media wing stated that Gen Bajwa briefed the business community and the government’s economic team over the improved security situation in the country.
“National security is intimately linked to the economy while prosperity is a function of a balance in security needs and economic growth,” he was quoted as saying by the Inter-Services Public Relations (ISPR).
“Accessibility and responsiveness of the government economic team to the business community and the displayed understanding between public and private institutions is a good sign for the desired positive trajectory in economic activity.”
“National security is intimately linked to eco while prosperity is function of balance in security needs & economic growth. Aim of various discussions and seminars was to bring stake holders at one platform to formulate recommendations for a synergistic way forward”, COAS. (2of2) pic.twitter.com/IvV70ZZKo9
— DG ISPR (@OfficialDGISPR) October 3, 2019
It merits a mention here Gen Bajwa is also part of the 13-member National Development Council (NDC) which was formed by Prime Minister Imran Khan, who also acts as its chairman, in June with an aim to “formulate and tailor policies to achieve accelerated economic growth”.
Wednesday’s meeting between the army chief and Pakistan Business Council members was “aimed at addressing the burning issues being faced by the business community in the country,” a businessman, who attended the dinner meeting, told Pakistan Today.
He said that uncertainty, lack of clarity in government policies, negative growth in large scale manufacturing were the key issues to be discussed.
According to sources privy to details, the PBC members were concerned about the recent arrest of their members, including former managing director of Pakistan State Oil (PSO) Sheikh Imranul Haq, by the National Accountability Bureau (NAB) in an inquiry into the illegal awarding of a contract pertaining to the import of liquified natural gas (LNG) to Elengy Terminal Private Limited (ETPL) – a subsidiary of Engro Corporation.
“The recent NAB summons for Hussain Dawood, chairman Dawood Hercules Corporation which Engro is a subsidiary of, has also annoyed the Council,” they said.
Sources further claimed that Adviser to Prime Minister on Commerce, Textile, Industry and Production Razak Dawood, who is a cousin of Hussain Dawood, threatened to resign from his post if the latter was arrested in the case which is actively pursued by NAB.
The businessmen said the prevailing uncertain situation in the country was hindering the influx of foreign investment into the country.
In his response, Gen Bajwa had briefed the forum about “difficult but extremely essential long-term beneficial measures” taken by the premier to breathe life into a crippling economy.
“Pakistan is on a positive trajectory of peace and development and shall carry forward the same towards enduring peace and prosperity,” he had said.