ICCI shows concerns over growing risks for economy
ISLAMABAD ( Web News )
Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce and Industry (ICCI) has shown great concerns over the growing risks for economy as according to a report of Ministry of Finance, the escalation of geopolitical tensions and domestic political conditions could hamper the positive outlook for Pakistan’s economy and may also aggravate the macroeconomic imbalances. He stressed upon all the stakeholders to take stock of this precarious situation and work for promoting political stability in the country which played a fundamental role in setting the pace and direction of the economic development. He said this while addressing a reception hosted by Muhammad Naveed Malik, former Senior Vice President, Islamabad Chamber of Commerce & Industry. Jamshaid Akhtar Sheikh Senior Vice President, Muhammad Faheem Khan Vice President ICCI, Muhammad Ejaz Abbasi, Baser Daud, Ashfaq Hussain Chatha, Malik Najeeb, Chaudhry Tahir, Imran Minhas, Shazia Rizwan, Nageena Khaleeque, Safeena Shah, Faheem Iqbal, Umar Sadiq, Rizwan Afsar and others were present at the occasion.
Muhammad Shakeel Munir said that the political stability was one of the key requirements for creating a favourable environment for business and economic activities as it facilitated investments to stimulate economic growth and jobs creation. He emphasized that all stakeholders should put their heads together and play a role to restore political stability in Pakistan that would improve the confidence of the business community and investors in the economic outlook of the country.
Jamshaid Akhtar Sheikh Senior Vice President and Muhammad Faheem Khan Vice President ICCI said that the economy of Pakistan was already facing great challenges of escalating oil, gas and commodity prices in the international market due to Ukraine crisis, which have a direct impact on business class and the general public. They said that growing political instability would slow down the pace of business activities and further affect the growth of the economy. They stressed that restoring political stability should be the top priority of all stakeholders to promote a conducive business environment and revive the economy.