'Marriott blast to hit economy hard'

Pakistan Economy Watch has condemned Marriott bombing in strongest possible terms and described it an inhuman act aimed at destabilising Pakistan.
The way common people have been targeted a day ahead of International Day of Peace only shows the effectiveness and reach of terrorists and failure on the part of the government, said Dr Murtaza Mughal, president, Pakistan Economy Watch, on Sunday.
He said that America knows that its policies are behind such carnage and yet it would always offer help in probing such incidents. Dr Murtaza Mughal said that this bombing will hit economy in general while hospitality, stocks, tourism and IT industries would be major losers.
"Hotel business has already lost around 50 percent of revenues due to political uncertainty and the bombing will add to its sufferings," he said, adding that the future of many under construction hotels is now uncertain.
As far as the IT is concerned, said Dr Murtaza Mughal, it is the single most loosing sector. Every Marriot bombing results in lost opportunities for Pakistan's IT sector.
A number of companies operating in Software Park have gone bankrupt after earlier bombings. Some of these companies were in business of keeping critical date of western companies from security breaches.