Pasdec’s Khadim Hussain urges top leaders to resolve political crisis first

LAHORE – The business community has urged the leadership from across the political divide to resolve issues at the earliest and provide a conducive atmosphere for the revival of the ailing economy. 

Pakistan is facing the worst economic crisis and the ever-increasing trade deficit and fast-depleting foreign exchange reserves are a matter of concern, said Khadim Hussain, a member board of directors of the Pakistan Stone Development Company (PASDEC), Punjab while speaking at a gathering of the business community here on Thursday.

“Businesses are facing difficulties even in managing day-to-day affairs,” he said. 

He said the situation is only going from bad to worse due to the prolonged political unrest. We first need to make our own house in order as political instability directly affects the economy and businesses. 

He said and added that the prevailing scenario is not only affecting foreign direct investment but also discouraging local enterprises from implementing plans of expansion. 

Both the opposition and the ruling coalition partners should sit together for ending the prevailing standoff in the larger national interest, he expressed. 

Mr Hussain, who is also an executive committee member of the Lahore Chamber of Commerce and Industry and chief executive officer of Hussain Trading Company, urged the government to devise a doable strategy for the revival of the economy and businesses after due consultation with the relevant stakeholders. 

In the prevailing tough situation of global economic meltdown, he said, the government should provide proper handholding and practical support to the enterprises so that they could play a due role in the revival of the national economy.