LAHORE: Business and industry in the country are facing severe setbacks, and the business community has declared the current economic situation in the country dangerous for trade and investment.
The interest rate in Pakistan has reached the highest level of 21%, and the trader community is extremely unhappy with the government’s economic policies.
President of the Federation of Pakistan Chambers of Commerce and Industry, Irfan Iqbal Sheikh, said that the interest rates in Pakistan are several times higher than China, Bangladesh, and India, and all sectors including industry, exports, and trade are facing a decline.
He said that after Eid, they are launching the National Economic Development Program, inviting all political parties, and giving a 15-year economic plan. Any change of power should not disturb the economic policies but instead they should be followed firmly.
It would be worth-while to mention that the Lahore Chamber of Commerce and Industry has already written to all political parties about charter of economy, meanwhile the FPCCI has once again intensified efforts to bring political parties together for the stability of the economy.
