During a dialogue with Prime Minister Shehbaz Sharif, business leaders in Pakistan urged him to start trade negotiations with India in order to boost trade and business, which would be extremely beneficial to the cash-strapped nation’s economy.
Business Community Urges Focus on Political Stability for Economic Turnaround
During an hour-long meeting on Wednesday at Pakistan’s commercial capital, Karachi, the business community praised the prime minister’s resolve to address economic issues, but suggested that in order to “turn around” the economy, he should concentrate on establishing political stability.
According to the report, industry leaders expressed concern that doing business in the current climate, with high energy costs and uneven government policies, would be “almost impossible” when the prime minister sat down with them to discuss ways to boost the economy through exports.
Following the prime minister’s brief address, business leaders expressed their gratitude for the government’s recent actions but also made additional demands during the question-and-answer period in the house. They also discussed ideas for economic measures to accomplish the intended goals.
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After India revoked Article 370 of the Constitution on August 5, 2019, thereby removing Jammu and Kashmir’s special status and dividing the State into two Union Territories, the two countries’ relations fell apart. Pakistan reacted strongly to India’s decision, downgrading diplomatic ties and expelling the Indian envoy. Moreover, Pakistan and India no longer have direct trade relations.
Jammu and Kashmir “was, is and shall forever” remain an essential part of India, the country has informed Pakistan on numerous occasions. In response to questions about political stability, Prime Minister Sharif said he had taken note of his suggestions for economic expansion and promised to bring businessmen from all over the nation to Islamabad so they could sit down with him “until all the issues aren’t resolved.”
The business magnate recommended that Shehbaz Sharif hold talks with the PTI’s founding chairman, Imran Khan, who is currently incarcerated, ostensibly to promote political stability.
Arriving in the port city for the first time since taking office one month ago, Shehbaz Sharif described the meeting as an effort to hear the “brilliant minds of business, absorb what they say and put it into action” for a comprehensive roadmap for economic growth.
