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LAHORE, Nov 27 (APP):SAARC Chamber of Commerce and Industry former President, Iftikhar Ali Malik has said that Pakistan with its vast potential, cannot afford the politics of protest and confrontation that hinder progress and undermine economic growth.
In a statement issued here on Wednesday, he said political instability disrupts industrial activities, hampers economic development and deters both local and foreign investments, adding that prolonged protests lead to sabotaging friendly business environment, tumbles down supply chains and public services, exacerbating economic challenges in an already fragile economy.
He said that in a globalized world, investors and international stakeholders prioritize stability and predictability. Persistent political turmoil diminishes country’s image as a destination for investment, further straining its financial system.
The economic costs of these confrontations are reflected in rising inflation, unemployment and reduced economic output, leaving the most vulnerable segments of society to bear the brunt, he added.
He said that prioritizing inclusive development and stable governance was essential for a prosperous Pakistan.
The time has come to set aside political rivalries for the greater good of the nation,he remarked.