The Pakistan Industrial and Traders Association Front (Piaf) has congratulated newly elected President Asif Ali Zardari and urged him to take well-calculated measures to solve the economic challenges being faced by the country.
The Piaf Chairman Irfan Qaiser, Vice Chairmen Iqbal Baig Chugtai and Khawaja Shahzeb Akram feared that if immediate steps to control fast widening trade deficit, depreciating rupee value and rapid increase in daily-use items were not taken, the situation would reach the point of no return.
The Piaf leaders, in a statement, said the country is already paying a very high price of the political instability witnessed by the country in previous years. Now, it is the responsibility of the government to convene a moot of the business leaders for seeking suggestions so that the downtrend in economy could be checked.
They said that political stability and respect to each other's mandate is the only way out to attract much needed foreign investment and enhance foreign reserves, he maintained. They said that the President-elect and Co-chairman would have to act on home-grown policies, as the dictation from the international donors would further aggravate the economic situation. The government would also have to evolve new policies in consultation with all the stakeholders to arrest unemployment graph and to make law and order situation satisfactory as good law and order situation is prerequisite to local and foreign investment, he maintained.
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