Businessmen urge PM to formulate stable economic policies

KARACHI: Several prominent businessmen and industrialists have urged Prime Minister Imran Khan to formulate lasting and stable economic policies to steer the country out of economic crisis.

Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Vice President Hanif Lakhany, and Senior Vice Chairman Pakistan Yarn Merchants Association (PYMA) and Vice Chairman Farhan Ashrafi issued a statement saying that the government should take trade and industry-friendly measures to bring the COVID 19-affected businesses and industrial activities back to normal.

In their appeal to the prime minister, they said that policies need to be changed, not ministers. They added that COVID-19 pandemic has affected businesses and industry badly, as a result most businesses have been wiped out and those who have survived are struggling to cope with the negative effects of the epidemic.

“Whether it is the Ministry of Finance, the Ministry of Petroleum or the Ministry of Commerce, the economy will never recover from the repeated changes of their ministers, but the economic crisis will be more serious”, they added.

Therefore, instead of focusing on the constant change of ministers, the government should take steps to stabilize the economy and revive business & industry so that the country can move forward on the path of development and create more employment opportunities.

They added that the business community was not satisfied with the government’s economic policies, especially in the face of the COVID-19 pandemic, the government did not take the necessary steps to protect trade and industry from its negative effects.

They said the business community is worried where they stand and who will solve their problems at a time when the epidemic has shaken economies around the world. Therefore, they said the government should formulate better economic policies so that Pakistani exporters can compete in global markets.