PESHAWAR, Aug 18: The business community in the NWFP on Monday welcomed the resignation of President Pervez Musharraf, saying it will help the ailing national economy to recover.

They, however, asked the coalition government to take practical steps to boost the economy.

Senator Ilyas Ahmad Bilour, leader of Pakistan Businessman Forum, said past nine years proved fatal for national economy although the former dispensation under Musharraf had been claiming it a successful period.

He said that the country’s foreign exchange reserves grew only after the 9/11, when politically-motivated aid money, proceeds from privatisation and foreign remittances came in. He criticised the policies of Musharraf, saying: “He left not a single institution in working condition.”

Nauman Wazir, President, Industrial Association of Peshawar, also welcomed the resignation of Musharraf, saying it would end a controversy which had put everything at a standstill for the last six months.

He said that the economic condition went from bad to worse during this period mainly because of uncertain political situation. He, however, hoped that now the situation would gradually improve.

He was of the view that now the coalition government would have no excuse, as now they would have to deliver and bring the economy back to the tracks.

Haji Mohammad Asif, President, Sarhad Chamber of Commerce and Industry (SCCI), in his identical views welcomed the resignation and termed at a “good” decision for the country.

He said the country had suffered a lot because of political wrangling it witnessed during the last six months.

He was of the view that the business community was the worst hit during this period.

Mr Asif hoped that the situation will improve on the economic front with the passage of time.

He asked the political leadership of the coalition government to take steps on a war footing for the economic wellbeing of the country.