May 25, 2022: SAARC Chamber of Commerce and Industry (SCCI) President, Iftikhar Ali Malik cautioned Wednesday that country’s fragile economy was not in a position to bear the brunt of prolonged political turmoil at this crucial juncture of time.
The political turmoil had been inflicting tremendous loss to the economy, making the lives of the poor more miserable besides putting the country at stake, he said while talking to a delegation of young educated progressive women led by an emerging Utuber Ms. Noreen Asim Siyal .
Iftikhar Malik said, Pakistan was among a few countries where political instability had badly damaged the economic growth despite having plenty of indigenous resources.
He said political instability had a significant negative effect on economic growth and the government should take immediate measures on war footings to bring political stability, which he said was a pre-requisite for a sustainable economy.
Malik urged political parties to demonstrate the best prudence and exhibit the highest degree of wisdom to iron out the differences as unrest had wreaked havoc on all economic fronts.
He said that politics of confrontation, protest, violence, and agitation was no solution to issues adding time had changed now and the influential nations were paying more attention to financial warfare to continue their dominance.
These countries are successfully using their weapons of economic destruction to weaken the economies of poor nations to achieve their unholy designs adding Pakistan’s economy was not strong enough to withstand economic terrorism.
Iftikhar Ali Malik highlighted the importance of enhancing exports by reducing the cost of doing business to make the country’s products competitive in the world markets.
On the occasion, Ms. Noreen Asim Siyal thanked Malik for encouraging them and said women almost constitute 49 percent of the population who can strive hard in every sphere of life if given equal benefits and opportunities at par with their fellow entrepreneurs.