February 20, 2008	Wednesday	Safar 12, 1429

KARACHI, Feb 19: The businessmen in the country have greeted the verdict given by voters in Monday’s general elections by rejecting the status quo.

Trading on the Karachi Stock Exchange surged by more than 400 points on Tuesday when results of elections were trickling in, showing a new set of leaders replacing the old guards.

The business leaders too were looking ahead with hope and confidence after the Monday’s elections threw up leaders of PPPP and PML-N in place of PML-Q.

“No major incident took place on Monday which was being feared,” a Jodia Bazaar merchant said.

“There was a buying spree of essential items a week before in anticipation that there would be turmoil and troubles on Monday and afterwards and hence the necessity of stocking food grains,” he said.

“Everything went well on the polling day,” he said.

Like all other people, the business leaders too feel relieved and happy on election results which they believe should pave way to a quick formation of a national consensus government at the federal and provincial levels and bring some stability in the country.

“Chaudhry Shujaat Hussain’s open acknowledgement of electoral defeat and his consent to play a role of opposition is also a good beginning towards tolerance and large-heartedness,” the businessman said.

“We welcome the election results and hope that the leaders of the PPPP and the PML-N will create an environment for a flourishing business and trade,” Tanvir Ahmad Sheikh, President, Federation of Pakistan Chambers of Commerce, said on telephone.The FPCCI leader is convinced that the next government has a lot of work to do to revive industry and agriculture and generate employment and improve supply of goods and services in the country.

He shares the common perception that economic policies of last eight years had created economic and social disparities which had caused political and social tensions in the country.

“This issue has to be addressed on priority,” he said

“The business is completely comfortable with popularly elected leadership,” Tanvir Sheikh replied when informed that it is generally believed that Pakistani businessmen are not happy with popular elected governments and feel comfortable under an authoritarian military government.

Aziz Memon, a noted readymade garment exporter, is also looking for revival of the manufacturing sector and boosting of value-added exports.

The textiles value-added sector was hard-pressed and exports growth was sluggish.

“Once the government settles down, the problems and issues will be brought to its notice,” he said.

Shabbir Ahmad, a well-known bedwear exporter, has a lot of expectations from the future elected government.

“Elected governments are expected to be more responsive to business needs,” he said.

Many top businessmen have personal and social relationships with leaders of the political parties. Quite a few businessmen act as unofficial advisers to these top political leaders.

In Karachi, a few top businessmen are trying to bring the MQM and PPP together to form a consensus coalition in the province.

“The PPP has the majority members and can form its government, a businessman said. But he says that any government in which urban areas of the province are not represented will face difficulties in governance.

“The MQM represents urban areas, which generate revenue and are hub of business activities,” he said, adding “their presence in a consensus coalition, with a party that represents vast rural areas, is necessary.

“Businessmen are not politicians,” the business leader explained, who said the main purpose of the businessmen is to ensure an environment in which businesses thrive.