Political stability crucial for economic growth

March 8, 2014 Off By Web Desk

Islamabad: Senator Syed Zafar Ali Shah on Saturday said the political, social and economic system of the country is in grave danger which necessitates unity among all the stakeholders.

He said that political stability is crucial for economic growth and bringing people out of poverty as predictable environment attracts investment that result in poverty reduction, job creation, increased state revenues, and funds for welfare and educational projects, he said.

The PML-N senator said this while talking to businessmen at FPCCI Capital Office where he came to congratulate Vice President FPCCI Munawar Mughal on assuming charge. Chairman Coordination FPCCI Faisal Saleem Rehman and a large number of prominent businessmen were also present on the occasion.

Zafar Ali Shah said that that states facing internal violence do not normally make it on to the list of high-performers therefore government is trying best to ensure peace.

But, he said, cooperation of masses as well as the business community is critically important in the regard so that we do not remain economically moribund, he stressed.

He added that economic growth leads to a rise in the visibility and power of the middle-class, a catalyst for social and political upheaval.

At the occasion, Munawar Mughal informed the Senator about problems faced by the business community.

He said that political stability is a pre-requisite for economic growth and development of the country.