Business community wants conducive atmosphere for revival of ailing economy
Business
Prevailing political scenario affects foreign and local investments: Businessman
LAHORE - The business community urged the leadership from across the political divide to resolve issues at the earliest and provide a conducive business atmosphere for revival of the ailing economy.
Pakistan Stone Development Company's member board of directors Khadim Hussain said while speaking at a gathering of the business community “Pakistan is facing the worst economic crisis. The ever-increasing trade deficit and fast-depleting foreign exchange reserves are a matter of concern".
He said that businesses are facing difficulties even in managing day-to-day affairs. The situation is only going from bad to worse due to the prolonged political unrest. We first need to make our own house in order as political instability directly affects the economy and businesses.
The prevailing scenario, Khadim Hussain said, is not only affecting foreign direct investment but also discouraging local enterprises from implementing plans of expansion. As such, both the opposition and the ruling coalition partners should sit together for ending the prevailing standoff in the larger national interest”.
Mr Hussain, who is also an executive committee member of the Lahore Chamber of Commerce and Industry and chief executive officer of Hussain Trading Company, urged the government to devise a doable strategy for the revival of the economy and businesses after due consultation with the relevant stakeholders. In the prevailing tough situation of global economic meltdown, he said, the government should provide proper hand-holding and practical support to the enterprises so that they could play a due role in the revival of the national economy.
