SAARC Chamber of Commerce and Industry (SCCI) President, Iftikhar Ali Malik cautioned Wednesday that country’s fragile economy was not in position to bear the brunt of prolonged political turmoil at this crucial juncture of time.
The political turmoil had been inflicting tremendous loss to economy, making the lives of poor more miserable besides putting the country at stake, he said while talking to a delegation of young educated progressive women led by an emerging U-tuber, Noreen Asim. Malik said, Pakistan was among a few countries where political instability had badly damaged the economic growth despite having plenty of indigenous resources.
He said political instability has a significant negative effect on economic growth and government should take immediate measures on war footings to bring political stability, which he said was a pre-requisite for sustainable economy.
Malik urged political parties to demonstrate best prudence and exhibit the highest degree of wisdom to iron out the differences as unrest had wreaked havoc in all economic fronts.
He said that politics of confrontation, protest, violence and agitation was not solution to issues adding time has changed now and the influential nations were paying more attention to financial warfare to continue their dominance.
These countries are successfully using their weapons of economic destruction to weaken economies of poor nations to achieve their unholy designs adding Pakistan’s economy was not strong enough to withstand economic terrorism.
Iftikhar Ali Malik highlighted the importance of enhancing exports by reducing cost of doing business to make country’s products competitive in the world markets.