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Trade associations see stability

Updated April 21, 2017
KARACHI: People watch TV coverage of the Supreme Court’s verdict on the Panama Papers case in Saddar on Thursday.—PPI
KARACHI: People watch TV coverage of the Supreme Court’s verdict on the Panama Papers case in Saddar on Thursday.—PPI

KARACHI: The leaders of major trade associations heaved a sigh of relief at the Supreme Court’s verdict.

They said it cleared the clouds of uncertainty that was causing an adverse impact on business activities for the past few weeks.

Talking to Dawn, most businessmen sounded happy over the outcome. A leader articulated the community’s sentiment and said it was ‘like a big storm passing away without causing devastation’.

Zubair Tufail, president Federation of Pakistan Chambers of Commerce and Industry (FPCCI) advised political parties to accept the SC verdict with an open heart and try to work for the stability of the country.

He appealed not to adopt a path of agitation till the investigations under the JIT were completed and Supreme Court came up with a verdict based on these findings within a period of 60 days.

Masood Naqi, chairman Korangi Association of Trade and Industry (KATI) said the business community wants peaceful settlements of all issues as stability is crucial for business.

The SC verdict has helped to move out of ‘wait and see’ phase, he said.

Shabir Ahmed, Patron-in-chief Pakistan Bedwear Exporters Association (PBEA) said people think that the storm has subsided after the SC verdict but in fact more uncertainty has been created.

The country needs long term stability for arresting rapidly falling exports, he said.

“For another 60 days, the whole nation will have to wait and keep their figures crossed. I do not feel the SC verdict has settled the issue,” he added.

Published in Dawn, April 21st, 2017