Political stability is essential for sustained economic growth: SAARC CCI


ISLAMABAD: ASACR Chamber of Commerce and Industry (CCI) President Iftikhar Ali Malik said on Sunday that political stability is inevitable for sustained economic growth in order to face the country’s multiple challenges.

He said that at this crucial juncture, the Pakistani economy can neither endure political turmoil nor afford political instability.

He said the politics of confrontation, agitation, protest, violence and agitation is not the solution. He said times had changed as influential nations now paid more attention to financial warfare to maintain their dominance.

These countries were successfully using their weapons of economic destruction to weaken the economies of poor nations in order to achieve their ungodly designs while the Pakistani economy was not strong enough to resist economic terrorism.

Iftikhar said that it is indeed important to increase our exports and to this end they need to reduce our costs of doing business so that the products can remain competitive in world markets. He said that trade facilitation was the key to promote industries and they should remove all barriers and create the culture of trade facilitation.

“Our country has enormous potential because we have enormous talents. What we need is consistency in government policies and a clear roadmap to move forward, ”he added.

He was of the opinion that all sectors, including the industrial sector, should fulfill their national obligations and play their key role in strengthening the economy while the government should introduce reforms and control the smuggling of materials. raw and finished products.

Malik urged the government to conduct market research to discover new foreign destinations for Pakistani products which were the best in the world in terms of quality and price.

He called on Pakistani missions abroad to introduce Pakistani products to foreign buyers and to disseminate trade-related information so that Pakistani entrepreneurs can take maximum advantage of business opportunities.

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