Recently, in an interactive session with Pakistan’s Prime Minister Shehbaz Sharif, several business leaders urged him to initiate trade talks with India to promote business and commerce, which in response, would greatly benefit the former’s cash-strapped economy.
An hour-long meeting was held at the Sindh CM house in Pakistan’s commercial capital on Wednesday.
While praising Prime Minister’s determination to tackle economic issues, the Karachi’s business community advised him to focus more on bringing political stability to the ‘turn-around’ economy.
Other Industry leaders condemned the move, citing that it was ‘almost impossible’ to deliberate business under the current circumstances, particularly keeping in mind high energy costs and inconsistent government policies.
There was a sense of concern among the business leaders over the political instability in the country for which they even advised the Prime Minister to take initiative as the head of the government.
Arif Habib, chief of Arif Habib Group said, “You have made a few handshakes after taking in charge that have produced good results and progress on the IMF deal is one of them”
“I suggest you do a few more handshakes. One of them is regarding trade with India, which would greatly benefit our economy. Secondly, you should also (patch up) with a resident of Adiala Jail (a reference to jailed PTI leader Imran Khan). Try to fix things at that level as well and I believe that you can do it.” The bilateral ties tumbled after India abrogated Article 370 of the Constitution, revoking the special status of Jammu and Kashmir and bifurcating the State into two Union Territories on August 5, 2019.
Pakistan swiftly responded to India's decision by downgrading diplomatic ties and expelling the Indian envoy, alongside severing direct trade links.
Asserting its stance on Jammu and Kashmir, India reiterated that the region remains an integral part of the country.
Prime Minister Sharif, while refraining from direct responses on political stability, emphasized his focus on economic growth. He pledged to convene with businessmen nationwide in Islamabad to address outstanding issues comprehensively.
In a bid for stability, business leaders recommended talks between Shehbaz and imprisoned PTI founding chairman Imran Khan.
During his maiden visit to the port city since assuming office, Shehbaz expressed eagerness to engage with business minds, aiming to translate their insights into a robust economic growth strategy.
He urged for an end to rent-seeking practices, emphasizing genuine industrial and agricultural development, with a target to double exports in five years.
Reflecting on Bangladesh's economic success, Shehbaz highlighted the transformation of 'East Pakistan' from a perceived burden to a thriving industrial hub, inspiring aspirations for Pakistan's economic trajectory.
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