Pakistan’s economy was already in deep troubles due to global recession, shrinking demand in international markets, dwindling exports, rising inflation, high interest rates, high cost of doing business, energy shortage, widening fiscal and current account deficits, diminishing investment. However, the implosion of political crisis and deteriorating law and order situation have created more apprehensions in business community about future economic prospects as these circumstances would further dampen investor confidence and deepen the economic crisis. This was stated by Mian Shaukat Masud, President, Islamabad Chamber of Commerce and Industry in a statement. He said due to unfavorable business environment, many industries have already closed their operations while many more were on the verge of collapse and they were expecting immediate relief from the government to stay productive. But the businessmen are now worried because the new developments are likely to put an overall negative impact on the economy. He strongly condemned the attack on Sri Linkan Cricket Team which has badly dented the image of the country creating more difficulties for economic revival efforts.

Mian Shaukat Masud said businessmen are apolitical persons and they do not take sides in political matters. However he said they get deeply concerned if there is instability & uncertainty or if any event is likely to disturb peace in the country as it directly hurts their business activities. He said the current situation is affecting different sectors of the economy including manufacturing, services, wholesale and trade, transportation etc. Therefore, he stressed for the need of taking immediate steps for improving law & order situation, establishing harmony and stability which is must for economic stability. He called upon all the stakeholders to resolve differences through dialogue as uncertainty and protests, even if they are peaceful, will cost the economy much more at this precarious stage of the state of our economy. He said in order to avert the negative impact of current situation on trade and industry, business community should be consulted to take measures to boost their confidence. In case the government fails to provide a business-friendly atmosphere, economy would go down further, investors would shy away and the country would miss export target set for the current year, he concluded.