ISLAMABAD: SAARC’s Chamber of Commerce and Industry (CCI) Senior Vice President Iftikhar Ali Malik Sunday said that political stability studded with uninterrupted continuity of democratic system of government laced with better law and order is a must for making the country an economic giant among the comity of nations.
Talking to a delegation of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) who called on him at his residence after conducting the sixth successful FPCCI Achievement Awards, he said those who won medals deserve our applause as they performed the best in their respective fields to boost the economy,” says a press release issued here today.
He said that the corporate sector is an asset for Pakistan that has sustained itself in extremely tough conditions. He said that the private sector is playing a vital role for boosting the economy of the country, so it is the prime responsibility of the government to fully support and encourage the private sector to play a leading role in the economy. “We should all work together tirelessly in our respective selected professions to take the country to new heights of glory and economic prosperity,” he added
Iftikhar Malik who is also Chairman of the United Business Group (UBG), said that the political leadership of the country should demonstrate maturity and be refrained from the blame game and for developing national cohesion, adding that such things would end up in nothing but political turmoil. Pakistan has vast natural resources, which are many times more than the oil-rich countries of the world but could not be exploited due to the political uncertainty and disruption of the political process.” He said economic development and corresponding prosperity were intertwined with political stability.
He said that Pakistan had copper and gold deposits, Thar coal reserves, about more than 40,000MW potential of hydropower generation in Gilgit-Baltistan, fertile land in Punjab and yet ironically the people of the country were stricken with energy deficiency. The country was passing through a critical phase of its history in the wake of the war against terror which, he added, warranted stable democracy and continuous healthy economic growth.
Iftikhar Ali Malik said that the current political instability is badly hampering the national economy and discouraging foreign investors, which makes Pakistan an even more precarious place to invest. He urged the leaders of all political parties to help strengthen the democratic system in the national interest by burying their political differences. He added that political stability was a key factor worldwide for economic development and restoring confidence of foreign and local investors. In the international scenario, only such countries would survive in days to come which had a strong economic base.
If international disputes could be settled down through negotiations and parleys, why can political issues not be solved amicably in Pakistan, he questioned. He added that Pakistan is blessed with plenty of indigenous natural resources and mineral deposits. The national economy is now in dire need of full support from stable democratic institutions. He hoped that a stable government will emerge after the elections which will steer the country out of the quagmire of crisis and will take the opposition parties along with it to bring long-term economic policies which will help boost the economy. “However, politicians should be judged not on their promises but on their ability to deliver,” he concluded.
