Business activities slowly picking up, says FPCCI

The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Monday said following the political storm, the business activities are slowly picking up which is encouraging.

Some of the investors worried for months are coming out of their shell that will boost economic activity, it said.

The new Prime Minister Shahid Khaqan Abbasi should translate his words into action by taking steps to ensure political and economic stability, said Atif Ikram Sheikh, Chairman FPCCI Regional Committee on Industries.

He said that the Prime Minister in his first speech said that work on CPEC will be expedited which is encouraging.

Atif Ikram Sheikh said that civilian and military leadership is one the same page as far as the China Pakistan Economic Corridor (CPEC) is concerned while China has termed the recent developments in Pakistan as its internal matter which has dispelled the impression that CPEC will be compromised.

However, he said, support of civilian and military leadership to the project is not enough, its security and more importantly conducive investment environment is also very necessary.

The government should take steps for stability so that CPEC can be completed well in time, he said, adding that the political turmoil had a little impact on the projects under CPEC which can be ignored.

The reservations of some of the sections of the local business community should be allayed otherwise they will not invest in the nine special economic zones along CPEC, he said.