HYDERABAD: President of Hyderabad Chamber of Commerce and Industry Adeel Siddiqui has urged the government and powers that be to strive to improve the internal political environment after Pakistan has been removed from the ‘grey’ list of Financial Action Task Force (FATF).
He said it was imperative that all forces in the country play their role in cooling down political temperatures.
In a statement issued here, he said that the removal of Pakistan from the grey list would help improve our exports and imports and provision of international loan would become a bit easier. He said that this was needed for improving Pakistan’s economy.
The HCCI chief stated that Pakistan was included in grey list in June 2018 and we had been part of the list in 2008 and 2012 as well. He said that recent decision of FATF would provide a breather to the present government and that could be used for improving Pakistan's economy. He said that removal from the list would not, however, have immediate bearing on the economy but still it bodes well for the country's financial matters and image.
He said that due to structural weaknesses in the economy including lessening investment, declining exports as well as growth this decision could not immediately be a game changer. He said it would be an achievement for the present coalition government of Shahbaz Sharif led government on diplomatic front considering this long awaited success in political context. He said that since we are now part of white list it was hoped that Pakistan's trade deficit would now drop and added that if government took full advantage of this success then Pakistan would be able to establish a strong trade linkage globally with a better image.
Adeel Siddiqui said that Pakistan's foreign ministry was duty bound to capitalize on this success in the world. He thanked Pakistan's all time friends China, Turkey and Malaysia that had offered full support to the country to get the country out of FATF's grey list.
HCCI Chief said that government and powers that be should play their role in improving political environment in the country as it would improve trade and business activities. He said that it would facilitate imports and exports and it was a chance for the country to rise to the occasion. He said that all forces in the country should play their role in cooling down political temperature of the country.
Copyright Business Recorder, 2022
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