‘Turbulence in political framework leads to macro imbalances’

LAHORE: The turbulence in the preexisting political framework will lead to macro imbalances within the country.

Shah Faisal Afridi, president of the Pak-China Joint Chamber of Commerce and Industry (PCJCCI) said in a statement, while commenting on the prevalent scenario, which may cause catastrophic implications on the country’s domestic economy, in general, and CPEC projects, in particular.

Afridi said that the government policies do not come into existence in minutes and seconds, they require long duration to be accomplished, adding that after screening through long tedious process, when they come in the implementation phase, some desirable, anti-growth, anti-developmental elements poke their nose and try to damage the whole fabric of the development programmes.

People should be aware of the ultimate consequences of such political turbulence and; therefore, take decisions accordingly, he said.

He said the people should understand that why the so-called public well-wishers belonging to varied doctrines suddenly come into existence who actually work for their master’s interests, which in this case is quite visible.

China is becoming Pakistan’s largest trading partner and a major investor, which has committed to invest $46 billion in a host of sectors, including energy in Pakistan, he said.

The Chinese government has also taken over operational control of the Gwadar Port – a region, which will help propel economic activities across the country, the PCJCCI president said. He lamented that $46 billion investment in projects under the CPEC is an eyesore for many internal and external forces who do not want to see progress and development in the country.

The people who are criticising these developmental plans do not want to see the country, forming new roads, power houses, infrastructure, health and education.

He urged the nation to pray to Almighty Allah to protect the country from evil intentions.

He quoted the agitation in this regard from the Indian prime minister who has openly reprimanded that CPEC projects are destabilising India. He has visibly shown his resentment in accomplishment of CPEC projects, he said.

Afridi expressed concern on such detrimental factors that create ambiguity in the developmental setting.

He said that it needs to be realised by every single person of the Pakistan that any social and political disorder in the current situation will rigorously eliminate the long-term commitments from foreign investors.

Pakistan must continue with the democratic process to get on track, good governance will not come automatically; it has to be develop, Afridi said.

Afridi maintained that foreign investment could be attracted only when there is a good infrastructure, good governance, proper implementations of the laws and the legal protection of the investment.

All the investment will be withdrawn by investors if there is any political turmoil in the country. Countries make progress when there is continuation of policies.

The major factors considered by investors, while making their investment decisions are political stability and consistency of state policies in an effort to work in an investment-friendly environment, he said.

Afridi regarded political stability a precondition for the nation-building and nation-building is a process necessary for the survival and development of a country.

The process of nation-building works twofold; it works towards identity formation of a nation, which results in integration of society, and obviously an integrated society plays an important part into state-building that includes the development of administrative infrastructure of the state.