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Political uncertainty to reverse economic growth: PIAF

Political uncertainty to reverse economic growth: PIAF

LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) has said that politics of agitation and sit-ins would push the national economy to the wall; therefore, all political parties should show maturity and try to resolve issues through talks as stability was a must for economic development.

PIAF Chairman Irfan Iqbal Sheikh, Senior Vice President Tanveer Ahmed Sufi and Vice President Shahzab Akram told APP here that national economy lost about Rs 400 billion due to different protests and long marches in previous years.

Businessmen were committed to the constitution and democracy; they would not support any undemocratic action against the governmen.

PIAF Chairman Irfan Sheikh said that Pakistan is in dire need of stability in policymaking and strong institutions and to achieve the very objective, both politicians and business leaders would have to join heads for finding out a common economic agenda.

The incumbent government, he said, had put the economy of the country on the right track; however, political uncertainty would reverse the economic growth achieved so far. “Let the Pakistan’s economy move toward improvement and speedy completion of public welfare projects,” he added.

The PIAF office-bearers stressed the need that all political forces should, without any further delay, initiate consultations with the economic leadership, including the PIAF, to chalk out an elaborate plan of action, aimed at reducing dependence on external assistance and achieving the long-cherished economic goals.