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Politics vs economy

Politics vs economy

Ijaz A Mumtaz, the president of Lahore Chamber of Commerce and Industry, has urged all the political parties across the board to shun their differences and work for the development and prosperity of the country. He also says that political instability, protest demonstrations and sit-ins are causing irreparable losses to the national economy as the country is passing through a critical juncture of the history.

The country needs political stability and a suitable economic policy which is impossible without the role of the political parties in the economic development. The government should also lower its dependence on the loans from the world donor agencies such as the World Bank and the International Monetary Fund.

Mumtaz also called for the sustainable policies and stability of the national institutions without which the goal of prosperity and well being of the people could not be achieved. He says that all the politicians should sit together and devise a common economic agenda in collaboration with the chambers of commerce and industry as well as other trade organisations to achieve the desirable results. He says that the country needs a sincere leadership to compete at the international level and the leadership should also be capable of resolving the country’s issues. The markup rates should be lowered to increase the pace of industrial development. He says that unemployment is the mother of all social evils and the government should provide maximum facilities to the private sector to overcome this menace.

A businessman always looks for conducive environment for the smooth running of his business and that is the reason thousands of Pakistanis have set up industrial units in Bangladesh, Sri Lanka, Kenya and even the United States. Pakistan can be a promising destination for the investors all over the world as Chinese investment is also pouring in. What only needs to do is to improve law and order, political stability and end to the energy shortage. If the government is sincere in the economic development of the country, it should prepare ground for attracting not only foreign investment, but also woo the Pakistani investors to bring back their investments from abroad and take part in the business activities in the country. Pakistan Tehreek-e-Insaf chief Imran Khan and Pakistan Awami Tehreek leader Dr Tahirul Qadri should also understand that the politics of confrontation will only bring political upheaval in the country.