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Pakistan Industrial and Traders Associations Front urges political parties to share economic agenda with private sector

Lahore, January 29, 2013 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) has urged all the political parties to share their respective economic agenda with the private sector for much-needed industrial and economic revolution.

In a statement issued here, PIAF Chairman Engineer Sohail Lashari said that political debate and economic policy considerations require convergence at this critical juncture when the country is faced with multiple challenges including industrial deceleration, deteriorating law and order situation and above all unprecedented domestic borrowing.

“This is a prerequisite to help reduce dependence on International Financial Institutions (IFIs) like International Monetary Fund (IMF) and the World Bank and for paving way for self-reliance in coming years.

The PIAF Chairman said that Pakistan, at this point in time, is in dire need of stability in policy making and strong institutions and to achieve the very objective, both the politicians and the business leaders would have to join their heads for finding out a common economic agenda.

To compete head-to-head with the great nations of the world, he said, the country needs a selfless and visionary leadership who has the ability to think beyond tomorrow to tackle all the governance-related issues and for the sake of future generations.

As, he said, the general elections are fast approaching therefore it is important that each political party should clearly spell out its economic programme.

Engineer Sohail Lashari said the Pakistan economy was facing two formidable challenges to breakout of the current stagflation in which the economy is mired, characterised by low growth-an average of 3.0 percent in the last five years- and double digit inflation even if the latter at least temporarily is showing signs of abating. Most worrying is the decline in investment, he added.

He said that the country today is in dire need of macro stability, structural change and strong and well-functioning institutions to overcome the internal and external challenges.

The PIAF Chairman said that the energy crises in the last five years have destroyed the economic fabric of the country therefore the issue needs top priority through a combination of short-term and medium term energy projects.

The political parties should take not only the business community but the masses as well on as to how they would be able to bring the country out of economic mire. He said that the government has failed to control law and order situation in Karachi despite tall claims and repeated promises. The business community also hopes that the politicians would share their plan to bring peace back to the port city that is hub of economic activity.

For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Lahore, Pakistan
Phone: (92) 42 5123522
Fax: (92) 42 5123522
Email: Info@piaf.pk

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