Business community has welcomed President Pervez Musharraf's resignation and hoped that his exit would bring political and economic stability in the country. They said that the government must concentrate on serious economic issues and adopt policies to boost trade and industrial activity.
President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Tanvir Ahmed, said that the business community was in favour of resignation of President Musharraf to bring the country out of political and economic turmoil. He appreciated that the President had made the right decision, keeping in view the prevailing political and economic condition.
He said that up till now the PPP government was concentrating on President's resignation and restoration of judges and had been paying no attention to the economic issues. Now resignation of the President has increased responsibility of the government to concentrate on economic issues and resolve them in consultation with business community to bring the country out of economic crisis.
Senior Vice President of Karachi Chamber of Commerce and Industry (KCCI). Iftikhar Ahmed, said that a few days ago the chamber had advised the President to step down in the best interest of the country.
He said that the business community has high hopes from the present government that it will succeed in bringing political and economic stability in the country. He hoped that flight of capital would come to an end; industry that had gone out of production would restart production, and prices of goods will decline.
Chairman of Korangi Association of Trade and Industry (KATI), Fazl-e-Jalil, said, "It is a day for rejoice for the nation". He held President Musharraf responsible for economic downturn and flight of capital from the country. He said that the government has to take bold steps to boost industrial and trading activities in the country and to bring back capital, which has shifted out of country.
He pointed out that with the resignation of the President, the Stock Exchange index registered over 461 point up and rupee gained against dollar. Chairman of Federal B Area Association of Trade and Industry (FBAATI), Idrees Gigi, said that he was shocked to learn that the President had tendered his resignation. He must have faced the challenges.
He said that there was total confusion as who would be the next President of Pakistan. He said that flight of capital is taking place. Government has to take bold decision to stop flight of capital, he added. Patron-in-chief of North Karachi Association of Trade and Industry (NKATI), Moiz Khan, appreciation President's decision and said that he had made a bold and right decision.
He said that the present political people have already served the country twice. "Now let's see what these democratic people do to establish political and economic conditions," he added. He said that in the last few months, prices of all essential items have gone up by around 400 percent. "Let's see what measures the government adopts to reduce price and provide relief to poor people," he added
A former president of KCCI, Siraj Kassim Teli, said that with the resignation of President Musharraf business community hoped that the government would now concentrate on economic issues. He said that the chamber had demanded resignation of the President in the best interests of the country.
He said that the ruling party was concentration on issue of President's resignation and restoration of judges, paying no attention to economic issues. Vice President of FPCCI Zubair Tufail said that the President had made a wise decision to step down in respect of people's mandate and to save the country from big turmoil.