ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Nasir Mansoor Qureshi has appealed to political stakeholders to ensure political stability for economic progress and national prosperity.

In a statement issued on Friday, Mr Qureshi painted a stark picture of the current crisis, citing deteriorating law and order, pervasive corruption, nepotism and a volatile political climate as key barriers to attracting foreign direct investment.

“These factors have severely undermined Pakistan’s economic potential, leaving industries and businesses on the brink of collapse,” he said, adding that trade and manufacturing setups in Islamabad had been severely affected due to regular lockdowns.

He demanded that all parties should set aside their differences and engage in a constructive national dialogue to formulate comprehensive, long-term economic policies that serve the nation’s interests.

Highlighting the critical link between political harmony and economic recovery, Mr Qureshi said Pakistan’s mounting financial challenges, including industrial closures, soaring power tariffs, excessive taxation and escalating unemployment can only be addressed through a stable and collaborative political framework.

He said the worsening political polarisation aggravated these issues, deterring entrepreneurial activity, and stifling economic growth.

The ICCI president said for Pakistan to emerge from this dilemma, there is a need for robust governance, institutional integrity, and unwavering commitment to policy continuity.

He called upon political leaders to prioritise the nation’s economic stability over partisan interests.

Published in Dawn, November 23rd, 2024