Traders and industrialists urged all political parties in Pakistan to sign a ‘charter of economy’ instead of demanding fresh general elections in the country, WealthPK reports. They were talking to Khyber Pakhtunkhwa Governor Haji Ghulam Ali at the Lahore Chamber of Commerce and Industry (LCCI). “We want economy, not elections,” they demanded through a resolution on the occasion.

LCCI President Kashif Anwar, Senior Vice President Zafar Mahmood Chaudhry and Vice President Adnan Khalid Butt addressed the meeting. LCCI Executive Committee members and former office-bearers were also present on the occasion. KP Governor Ghulam Ali said that all segments of society, including politicians and the business community, should think beyond all kinds of politics, and play their role for economic development of the country.

He said that a collective approach should be adopted to resolve the issues being faced by the business community and the state. “When the state is weak, its foundations are shaken. Economy and industry are the main pillars of our state. We have to think about the development of economy, industry, elimination of unemployment and controlling inflation,” he added. He said that all 54 chambers in the country should stick to their stance of boycotting elections if the charter of economy was not signed. He said that only the business community could bring the country out of economic crisis.

The governor said that Khyber Pakhtunkhwa had vast mineral resources that would not be exhausted even in the next 100 years. He said that the business community should invest in the mineral sector of KP. He said that full support would be extended to the investors and a seminar would also be organised in that regard in Governor’s House, Peshawar. “I have suggested that all the political parties should be persuaded to sit on one table and hold the elections on the same day. It will cost only Rs50 billion instead of Rs200 billion. Punjab is an elder brother. If there is any problem in Punjab, the backbone of the whole country will be broken,” he said.

LCCI President Kashif Anwar said that the country was currently suffering from severe political instability, which was having a direct impact on economy. “The conditions of our country require that a charter of economy is signed without further delay, and whichever political party comes to power, it should fully implement this charter,” he added. “We cannot afford an inflation rate of 27%. Our economic problems have multiplied due to the hike in dollar price against the rupee. This situation is not only keeping foreign investment away but also discouraging local investors,” he said.

The LCCI president said that the foreign exchange reserves reached the lowest level in the history. He said that banks were not opening new letters of credit while thousands of containers were stuck at the ports. He said that due to non-availability of raw materials, many industries closed down their operations. He said that although the federal minister for maritime affairs announced that demurrage and port charges would be waived off, no notification was issued in that regard.

Kashif Anwar informed the KP governor that LCCI had written a letter to the leaders of all the political parties to sign a charter of economy. The Lahore Chamber has also presented some important proposals to improve the current economic conditions of the country and requested the heads of political parties to share their economic manifesto with it.

“There is no doubt that political stability is essential for economic stability. The LCCI is in constant contact with all the chambers in Punjab and making all-out efforts for joint proposals for sustainable solution to the economic ills. LCCI is also willing to have cordial relations with the chambers in KP,” he said.

The LCCI president said that KP has a lot of potential for tourism. Most of the tourist destinations of the country are located in KP. To exploit the potential of tourism, it is necessary to provide hotels and other facilities to tourists. “We have always insisted on increasing the tax base. We have suggested that the government immediately announce the declaration scheme so that the undeclared foreign reserves can become part of our economy,” said Kashif Anwar.

He said that Pakistan had been playing its role in the war on terror very actively for a long time. “We have observed that due to this, many changes have taken place in the economic, social and political landscape of our country. This struggle will yield positive results soon and our country will get rid of many problems forever,” he added.

Credit: Independent News Pakistan-WealthPk