Political turmoil may harm national economy

LAHORE: The All Pakistan Business Forum (APBF) an amalgamation of leading entrepreneurs and business experts has expressed its concern about the possible economic fallout of the current political turmoil, if it prevails for an extended period of time.

Urging the country’s political parties to resolve their differences, APBF President Ibrahim Qureshi said the country needed political stability in view of the economic challenges lying ahead.

“A historic transnational initiative China-Pakistan Economic Corridor (CPEC) – worth over $55 billion has been undertaken to revolutionise our economy for which Pakistan should have a business-friendly environment for an extended period of time,” Qureshi said while talking to journalists.

“Pakistan has fortunately become a focal place for large-scale foreign investments,” he added, warning “we cannot afford or allow any kind of political turmoil or adventurism that will shake investors’ confidence.”

The APBF president also highlighted the need for bold decision-making in higher government circles to increase exports and rectify current account imbalances.

“In case of prolonged political unrest, the common man will be the biggest victim and every segment of Pakistani citizens will have to bear the brunt,” he said, adding that political forces should avoid unnecessary confrontation and decide matters through soon-to-be-held general elections.

APBF is a business association which promotes and protects interests of the business community and industries in Pakistan. It also advises the government on policy formulation, regulatory realignments, economic reforms and their implementation