Islamabad Chamber of Commerce & Industry (ICCI) has commended the initiative of Prime Minister Syed Yousuf Raza Gilani to convene a high level meeting of all the four chief ministers, provincial home ministers, chief secretaries, and heads of police and intelligence agencies to chalk out a strategy against terrorism.

Chairing a meeting, Mr.Karim Aziz Malik, Acting President, ICCI said that the tragic events like bomb blasts at Data Darbar Lahore are sending highly negative signals to investors and government should formulate a comprehensive strategy to proactively curb these incidents.

Severely condemning the acts of terrorism at the Shrine of Data Darbar Lahore, he said urgent steps should be taken to deal with militancy, as it is badly hampering investment and giving rise to feelings of insecurity in businessmen.

Mr.Karim Aziz Malik said Pakistan has suffered economic loss of billions of dollars from 2004 to 2010 due to fight against terror apart from incurring immense human loss. The cost includes both direct and indirect on account of loss of exports, foreign investment, privatization, industrial output, soft image and tax collection badly affecting the country’s socio-economic development.

He said as per Economy Survey 2009-10, foreign direct investment in the country has declined by 45 percent during July-April 2009-10 and one of the main causes of this sharp decline in FDI was unsatisfactory security environment.

ICCI Acting President said that business community will extend all possible support to the government for overcoming menace of terrorism as this problem has become a big hurdle in the socio-economic prosperity, political stability, geo-strategic sustainability and energy security in the country.