Political leaders urged to sign charter of economy to end crisis

Islamabad: The economy of Pakistan is currently going through a serious crisis, so it is necessary that the leaders of all political parties should develop consensus on a charter of economy in order to get Pakistan out of the current economic crisis and put it on the path of sustainable development, says a press release.

This was said by Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) while addressing the Golden Jubilee ceremony of the Senate of Pakistan. Ahsan Bakhtawari said that the Chairman Senate should play the role of bringing leaders of all the political parties on one platform in order to develop and sign a charter of economy.

He said that such crises can be avoided in the future only by creating long-term economic policies. He said that today countries like Bangladesh and Vietnam have overtaken Pakistan in economic development, which should be a wake-up call for us because the exports of Bangladesh have increased to $52 billion in 2021-22, while the exports of Vietnam have crossed $336 billion.

He regretted that after every few years, Pakistan takes one step forward and two steps back in economic development. He termed it very important that all political parties should sign a charter of economy so that whichever political party comes to power, the economic policies should continue and the economy should continue to grow sustainably. He further said that if the IMF agreement is indispensable for the economy, it should not be delayed as delay in its finalization is creating a situation of uncertainty in the country.

ICCI president emphasized for reservation of seats for the business community in the parliament on the pattern of reserve seats for minorities and women that would help in protecting the interests of the business sector during the legislative process and promoting business & investment activities in the country. He said that chambers of commerce including ICCI should also be invited as observers to the meetings of business-related standing committees of the Senate so that they can listen to proceedings of meetings and provide their input when needed. He said that Islamabad should be given the status of a province for the better development of the city and solve the problems of the people effectively. He congratulated the Senate of Pakistan for celebrating its Golden Jubilee and said that the Senate is playing an important role in strengthening democracy in Pakistan which is commendable.