The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Tuesdaysaid the recent turmoil created for petty gains is damaging country and its economy.
The recent power struggle among political parties is hurting national solidarity, disuniting and dividing the masses, and discouraging business community, it said.
Recent hue and cry over a non-issue is a great threat to the country as well as the unsound democracy while needless criticism of the important national institutions will weaken the country and embolden the enemies of Pakistan, said Zubair Ahmed Malik, President FPCCI.
No one can undermine the sacrifices of masses as well as that of the armed forces to defend the country in the war against terror which has now become our own war, he added.
Talking to the business community, he said that the politicians have failed to serve the nation; rather they have disappointed masses and frustrated the business community to a great extent which is having a very negative impact on the limping economy.
He said that some of our leaders have no idea of the unsatisfactory level of forex reserves held by the State Bank and they aren’t fully aware of the significance of GSP Plus for Pakistan otherwise they would have demonstrated some maturity on important national issues.
Giving an example, the FPCCI chief said that everyone wants to stop NATO supplies without considering consequences which may lead to refusal of the EU to grant GSP status and reluctance of the IMF to provide remaining instalments resulting in nose-diving economy, widespread unemployment, chaos and even default.
Zubair Ahmed Malik said that the economy as well as currency market is paying the price of political uncertainty and reckless attitude of some which has caused a continuous retreat of the local currency against the dollar. However, there are other important reasons behind the fall of the rupee, he added.
The government as well as opposition must acknowledge the reality that Pakistan cannot survive without loans and it cannot live in isolation, he said.
He said that the political situation is Karachi and one strike after another has taken toll on business activities as cost of doing business is on the increase while profits are decreasing. Exports and imports have become costly and the masses have become the ultimate victims.
The government should find a sustainable solution to tackle uncertainty and law and order situation, Zubair demanded.
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