After a respite in Panama case, the business community in Pakistan may face another uncertain situation after an apparent rift between the federal government and military over a notification issued regarding the inquiry report on Dawn Leaks.
“Without going into the debate of which side (civil and military) is right or wrong, the businessmen usually care about the favourable situation of trade and commercial activities. The situation of uncertainty, if prolonged, will badly affect the business and development activities in the country,” said a trade leader in terms of unanimity.
“We are already worried about unclear situation even after the verdict of Supreme Court of Pakistan regarding the Panamagate. The looming tussle between civil government and military will further aggravate the situation especially for the business community and investors,” he added.
According to Dr Vaqar of Sustainable Development Policy Institute, uncertainty has remained an important risk factor in Pakistan while the coming Chinese investment is contingent on improvements in security and the fulfilment of institutional, regulatory, logistical and other commitments made by Islamabad.
“Foreign investors would be the most affected people of any uncertainty in Pakistan. In case of a tussle among institutions, the highly sensitive investors will rethink about their investment plan they made keeping in view the opportunities opened through the multi-billion dollar China-Pakistan Economic Corridor (CPEC) project,” he said.
Shakil Ahmed Dhingra, a prominent businessman and a part of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that the tussle between two important institutions of the country would pose serious threats to investment and development activities in the country. The country cannot afford any unwanted situation at a time when foreign investors especially from China are coming here. We are already facing crisis and our economy is still not in good condition, he added.
According to another trade leader, though Finance Minister Ishaq Dar has tried to clarify things about the notification on Dawn leak, the situation has turned perplex after the interior minister Ch Nisar’s explanatory press conference, in which he targeted ISPR tweet.
Earlier on Saturday, while talking to media after participating seminar on economic challenges faced by the SAARC countries, Ishaq Dar said that Prime Minister Nawaz Sharif has given approval on the paragraph 18 of the Dawn leaks report and ordered to implement recommendations proposed in the report.
Dar clarified that Chaudhry Nisar has already unveiled the details of the Dawn leaks report; however, all details should be read out by joining paragraph 18.
Earlier, Finance Minister Ishaq Dar addressing a conference organised under the auspices of South Asian Federation of Accountants in Islamabad on Saturday commented that international institutions have expressed complete confidence in Pakistan’s economic statistics.
