Businessmen in Rawalpindi concerned over political uncertainty

RAWALPINDI: The business community of Rawalpindi has expressed concerns over the growing political uncertainty, saying it will ultimately affect the national economy.

It urged the government to resolve issues amicably.

Talking to different trade delegations, Rawalpindi Chamber of Commerce and Industry (RCCI) President Mohammad Nasir Mirza said the business community had grave concerns over the growing political and economic uncertainty as both were interlinked with each other.

“The stock market is hit badly and dropped more than 1,000 points in a single day and is on a bearish trend. Investors, especially foreign investors, can only be attracted once we have political stability and continuation of economic policies,” he said.

He said: “After the coronavirus pandemic, business activities have resumed with enormous difficulty. In such a situation, the recent political turmoil is detrimental to the country’s economy. The prime minister should take immediate notice of it.”

He said issues should be resolved amicably and political parties should show political tolerance, maturity and demonstrate wisdom.

The trade delegates spoke on their issues, including traffic congestion, tax notices, encroachment and parking.

Mr Mirza assured them that the chamber’s platform will always be available in raising voice to solve problems of the traders whether it was a matter of facilities or tax reforms.

There should be no harassment by Federal Board of Revenue (FBR), Punjab Revenue Authority (PRA) and other agencies under the guise of tax notices, tax collection and registration, he demanded.

Stakeholders should also be consulted on the issue of point of sales (POS).

Group leader Sohail Altaf said the business community has gone through a lot of hardships.

Recent political instability will have a negative impact on business and investment. He urged the government to tackle the situation immediately.