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ISLAMABAD, Jan 12 (APP):Islamabad Chamber of Commerce and Industry (ICCI) on Friday urged the political parties to unveil economic agenda of their election manifesto for the revival of the economy to achieve sustainable economic growth and prosperity.
The trade body said that it would provide a direction to the business community and investors and help them finalize their short and long-term business and investment plans for the country.
Talking to a delegation of traders and industrialists President ICCI Ahsan Zafar Bakhtawari said that less than one month period is left in the next general elections, but most of the political parties have not announced the economic agenda of their election manifesto as yet.
Ahsan Bakhtawari said that the economy of Pakistan is facing many big challenges as the external debt has exceeded US$124 billion by June 2023, the power sector circular debt has crossed Rs2.3 trillion, the inflation rate surged to over 39 percent in 2023, which has drastically reduced the purchasing power of the common man and reduced the growth of business activities.
ICCI President said that the UN’s World Economic Situation and Prospects Report for 2024 has also projected that the economy of Pakistan is confronted with many challenges, including inflationary pressures, currency depreciation, and high levels of sovereign debt.
He called upon the political parties to announce the economic agenda of their election manifesto to address these challenges and revive the economy, which will help the voters including the business community to see which party offers them the best solutions to address the economic issues and put Pakistan on the path of sustainable economic growth.