Political struggle disturbing economic recovery

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KARACHI, AUG 15: /DNA/ – FPCCI’s Presidential candidate Atif Ikram Sheikh on Monday said political tensions across the country will hamper the economic recovery.

The troubling political struggle may lead to another economic decline which will be unfortunate, he said.

The destiny of the country can be changed if the politicians give up petty interests and concentrate on a one-point agenda to restore the economy, he added.

Atif Ikram Sheikh said that the economy is going through tough times and the politicians have no option but to show a responsible attitude.

In a statement issued here today, the business leader said that if the political tensions continue, loans worth billions of dollars cannot revive the economy.

Political strains will also deprive the public of the appreciation in the value of the rupee, while a responsible attitude will change the situation for good as no one can stop nuclear power from becoming an economic power.

The UBG leader said that Saudi Arabia has renewed the three billion dollars kept in Pakistan, which will give relief to the government.

He said that because of the conflict between Russia and Ukraine, oil prices had increased to one hundred and twenty dollars per barrel, which increased the financial difficulties of all oil-importing countries including Pakistan, but now the oil prices have fallen below one hundred dollars.

Due to which the fall in oil prices, prices of gas and other commodities are also decreasing but the masses are not getting its benefit.

The decline in oil prices is because of Russia’s production not being affected despite the sanctions, the use of stored oil by Western countries and the threat of a global recession.