Political stability pre-requisite for economic uplift: SAARC CCI

LAHORE

Political stability and uninterrupted continuity of democratic system of the government, laced with better law and order, are the pre-requisites for durable economic growth and development of the country.

SAARC Chamber of Commerce and Industry’s Vice President Iftikhar Ali Malik expressed these views while chairing a round table conference on “Durable Political Stability Must for Sound Economy” here Tuesday.

Malik, who is also the chairman of United Business Group (UBG), said the country was passing through a critical phase of its history in the wake of the war against terror which warranted stable democracy and continuous healthy economic growth.

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The SAARC CCI VP urged leaders of all political parties to help strengthen democratic system in the national interest by burying their differences and said that political stability was a key factor worldwide for economic development and restoring the confidence of foreign and local investors.

He said in the international scenario, only those countries would survive in days to come which had a strong economic base.

Political stability was mandatory for a sound economy, he said asserting that foreign investment from multinational companies and private sectors would only pour in the country if democratic institutions were strengthened and a peaceful atmosphere prevailed.

“It is high-time that mainstream political parties must demonstrate their responsibility, tolerance and uphold the democratic values and norms in their ranks,” he said and cited that if international disputes could be settled down through negotiations and parleys why isn’t it so that political issues could also be solved amicably in Pakistan.

Malik said Pakistan was blessed with plenty of indigenous natural resources and mineral deposits, and national economy was now in dire need of full support from stable democratic institutions.

Former LCCI President Shahzad Ali Malik, Punjab University’s senior faculty member Dr Waqar Chaudhry and ChenOne Executive Director Brig (Retd) Azhar Mahmood, also spoke on the occasion.

They also urged political parties to end differences through series of result-oriented negotiations in the larger national interest instead of resorting to political confrontation so as to save the country from political and economic instability.

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