Political parties asked to unite for peace, prosperityAugust 5, 2014
KARACHI: Zakaria Usman, President of the Federation of Pakistan Chambers of Commerce and Industry, said on Wednesday that Pakistan is passing through a critical phase which demands all democratic patriotic political parties to sit on table for peaceful solution.
“Pakistan Army is in a state of war and the country could not afford political uncertainty. Operation Zarb-e-Azb is very important for our survival. The prosperity and the future of Pakistan depend on its success,” he said in a statement,” he said.
“The operation against foreign and local terrorists has entered its second month. The biggest problem is the resettlement and rehabilitation of internally displaced persons (IDPs). So far, more than 800,000 IDPs have been registered. It is not easy to accommodate such a large number of IDPs. Our security agencies are fighting a very difficult war, so we must sustain the national consensus against militants and become united at this crucial time and any kind of instability will only help our enemies.”
Usman also said that under current uncertain environment, law and order situation had deteriorated which was increasing feeling of insecurity among businessmen. “There is great threat to life for the businessmen. Buyers had a great life threat to visit Pakistan; even local buyers are not ready to travel. Investment opportunities have also declined in the country and investors are not interested to invest in Pakistan.”
He added that political instability had adversely affected economic performance through multiple channels. When the political situation becomes unstable, investors adopt a wait-and-see attitude which we have seen in the form of stock market crash by 666 points in a day. He mentioned that political tussle would damage the business confidence and investment activities in the country. He emphasized on the need for harmony and good working relations between government and opposition and all the political parties for the socio-economic prosperity.
Usman also said that the ultimate target of the macroeconomic policies was the achievement of high and sustainable economic growth. However economic policies are subject to political structure and stability. Political instability and frequent changes in political regimes extract an enormous price from the economy.
President FPCCI emphasized political harmony in the country and said that political stability promotes transparency, the rule of law and predictability and continuity of economic policies. It creates confidence among investors that they can do business and earn a decent return. Efficiency in the allocation of resources and higher capital investment under a stable political environment increases the rate of economic growth.
He president urged the political parties to unite and sit on a table for solution and work jointly with the business community to lift the people out of poverty, creating business friendly environment for the promotion of economic and commercial activities.
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