Political stability must for sustained economic growth: SAARC CCI

ISLAMABAD: President SAARC Chamber of Commerce and Industry (CCI) Iftikhar Ali Malik on Sunday said that political stability is inevitable for sustained economic growth to cope with the multiple challenges in the country.

He said that at this crucial juncture, Pakistan’s economy can neither endure political turmoil nor afford political instability.

He said that politics of confrontation, agitation, protest, violence and agitation is not the solution. He said time has changed as now the influential nations were paying more attention to financial warfare to continue their dominance.

These countries were successfully using their weapons of economic destruction to weaken economics of poor nations to achieve their unholy designs while Pakistan’s economy was not strong enough to withstand economic terrorism.

Iftikhar said it was indeed important to increase our exports and for that purpose they needed to reduce our cost of doing business so that products could remain competitive in the world markets. He said trade facilitation was the key to promote industries and they needed to remove all the obstacles and create the culture of trade facilitation.

“Our Country has tremendous potential as we have enormous talent. What we need is consistency in the government policies and a clear roadmap to move forward,” he added.

He was of the view that all the sectors including the industrial sector should discharge their national obligations and play their key role in strengthening the economy while the government should introduce reforms and control the smuggling of raw material and finished goods.

Malik urged the government to conduct market research to find out new foreign destinations for the Pakistani products which were the best in the world as far as quality and price was concerned.

He asked the Pakistani missions abroad to introduce Pakistani products to the foreign buyers and ensure dissemination of trade related information so that Pakistan entrepreneurs could avail trade opportunities to the maximum.

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