KARACHI, March 24: The business community, for a change, chose to share the popular democratic sentiment and joined the people in celebrating the election of Makhdoom Yusuf Raza Gilani as the new prime minister on Monday.

Business leaders, who have been traditionally apprehensive of political leadership, were all praise for them. They felt that politicians had succeeded in handling their business professionally and in a matured fashion.

They expressed the hope that stability would be achieved and the goodwill created would translate into a generous support from friendly countries in the West and the Middle East.

It would go a long way to improve the environment for business in the country which had been kept hostage to uncertainty over the past 13 months, they added.

Tanvir Ahmad Sheikh, president of the Federation of Pakistan Chambers of Commerce and Industry, expressed confidence in Mr Gilani’s managerial acumen, political maturity and steadfastness.

In a statement issued here on Monday, he said the new prime minister should prepare and effectively implement a strategic socio-economic plan to boost industry, exports and trade and commerce and create jobs and alleviate poverty.

“I see it as a very happy change and have full faith that the ruling coalition will deliver,” Iqbal Ibrahim, president of the All Pakistan Textile Mills Association, told Dawn from Lahore. “I am pleasantly surprised at the level of maturity displayed by all parties in the ruling coalition.”

Most tycoons in Karachi heaved a sigh of relief at the support of the Muttahida Qaumi Movement to the elected prime minister for they saw it as a reflection of an understanding between the Pakistan People’s Party and the MQM perceived to be vital for the business community in Sindh.

Shamim A. Shamsi, president of the Karachi Chamber of Commerce and Industry, urged the new team to revisit economic policy issues and resolve them for the good of the people.

“It was wise of the PPP to take the MQM on board as it is an integral part of the current reality of the province. The decision bodes well for Karachi and therefore the country,” Majyd Aziz, a senior leader of the business community, said.

He pinned high hopes on leaders such as Naveed Qamar and Ishaq Dar who, he said, were “well versed in issues confronting the economy”.

“The current developments on the political front signal departure from the politics of confrontation which is crucial to realise the development potential in Pakistan,” said a businessman from Islamabad.

“Whenever a new government assumes power, euphoria permeates the air and hopes are high. The real test for the Gilani government will be the way it reconciles conflicting economic interests of varied segments at the time of budget making two months from now,” said the tycoon who reaped rich dividends for his support for the Musharraf-led government.

Leaders of other trade bodies also hailed the election of Mr Gilani as the prime minister.