KARACHI, JAN 28: /DNA/ – The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on Tuesday that those who hinder economic recovery are enemies of the country.
He said that harassment of foreign investors is condemnable and affects the country’s reputation and investment climate.
Mian Zahid Hussain said that the elements discouraging foreign investors deserve severe punishment.
Talking to the business community, the veteran business leader said that the current government has made great efforts to save the country from bankruptcy, and the country’s economy is gradually improving. The political situation is also improving. However, investment and tax issues are not satisfactory.
He said that China is investing in Pakistan while other friendly countries are continuously making promises, the implementation of which is being delayed. In these circumstances, harassing Chinese investors, neglecting their security, and demanding bribes is condemnable and sends a very negative message.
Mian Zahid Hussain said that the police have harassed Chinese investors to such an extent that they are thinking of leaving the country, which is badly affecting Pakistan’s image globally.
The business leader said that the allegations of Chinese investors should be investigated at the highest level.
He said that investors are kept under surveillance for hours, their important meetings are postponed, and they are not facilitated as they expect.
The provincial and federal governments should thoroughly investigate all the matters and punish the people involved so that no one dares to poison the business environment and threaten the country’s future.
Mian Zahid Hussain said that the country’s industrial, agricultural, and commercial development depends on political stability. For economic stability, continuity of systems and policies, improved law and order situation, and cheap oil, electricity, and gas are essential.
The past decade’s ongoing political confrontation and revenge politics have left the country politically and economically unstable. At the same time, terrorism had a terrible impact on the country’s economy, and the investment climate in the country could not be established.
He said that IMF reforms have also slowed down the economy. The government is having to continuously increase the prices of energy, other commodities, and tax rates, which is improving the economy but increasing people’s anxiety.
Electricity prices could be reduced next month. The State Bank has reduced the markup rate by another one per cent to 12 per cent. The inflation rate has also come down to four percent, which has brightened the prospects of people getting relief.
In these circumstances, he said the opposition should also stop the politics of chaos for the sake of the country’s interests and play a positive role in parliamentary politics.
