Business leaders urge Prime Minister Shehbaz to initiate trade talks with India, which will benefit Pakistan’s economy

Pakistani business leaders, in an interactive session with Prime Minister Shehbaz Sharif, urged him to initiate trade talks with India to promote business and commerce, which would greatly benefit the cash-strapped country’s economy.

Karachi’s business community raised tough questions during an hour-long meeting at the Sindh CM House here in Pakistan’s commercial capital on Wednesday and appreciated the Prime Minister’s resolve to tackle economic issues but advised him to focus on bringing about political stability to ‘turn the situation around’. economy.

The Prime Minister sat down with the business community to find ways to boost the economy through exports, but his determination was met with concerns from industry leaders who said it was “almost impossible” to do so under the current circumstances business, especially with high energy costs and inconsistent government policies, Dawn newspaper reported.

After the Prime Minister’s brief speech, the House was opened for a question-and-answer session, during which business leaders expressed their appreciation for the government’s recent moves, but also made more demands.

They also shared proposals for economic policies to achieve the desired results.

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.

“You gave a few handshakes after taking charge, which yielded good results and progress on the IMF deal is one of them,” said Arif Habib, the head of the Arif Habib Group – a capital markets giant.

They also asked the Prime Minister to initiate trade talks with India, the report said.

“I suggest you do a few more handshakes. One of them concerns trade with India, which would greatly benefit our economy. Secondly, you also have to (patch up) with a resident of Adiala jail (a reference to jailed PTI leader Imran Khan). Also try to solve things at that level and I believe that is possible.”

Bilateral ties declined after India abrogated Article 370 of the Constitution on August 5, 2019, revoked the special status of Jammu and Kashmir and bifurcated the state into two Union Territories.

India’s decision provoked strong reactions from Pakistan, which deteriorated diplomatic ties and expelled the Indian envoy. Pakistan has also severed direct trade ties with India.

India has repeatedly told Pakistan that Jammu and Kashmir was, is and forever will remain an integral part of the country.

Prime Minister Sharif avoided responding directly to the questions aimed at political stability, but claimed to have noted his proposals for economic growth and assured him that he would soon invite businessmen from across the country to Islamabad and sit with them “until all problems are resolved” dissolved’. have not been resolved”.

The company executive also suggested that Shehbaz initiate talks with jailed PTI founder Imran Khan – apparently for political stability.

Shehbaz, who arrived in the port city on his first visit after taking charge last month, said the meeting was an attempt to listen to the “brilliant minds of the business community, absorb what they say and put it into action for comprehensive economic growth. roadmap.

“You are all great business people… Today we need you to take a step forward and put an end to these rental activities. Let’s focus on real industrial and agricultural growth and double exports over the next five years. It’s difficult but not impossible. It is an article of faith for me. I would listen to you and make a plan to put that into practice.

In a veiled reference to Bangladesh’s booming economy, he recalled ‘East Pakistan’, which was ‘once considered a burden on the country’ but had made tremendous strides in industrial growth.

“I was very young then… We were told it was a burden on our shoulders… Today you all know where that ‘burden’ ended up (in terms of economic growth). And we feel ashamed when we look at them,” Prime Minister Shehbaz said.