Setback for businesses, says FAP

Forex Association of Pakistan (FAP) President, Malik Bostan, on Wednesday, said that, since the last six months, Pakistan has been suffering from political instability – the adverse effects of which are reflected in slower economic growth and declining rates of investment. Addressing a seminar organised by the FAP, Bostan urged the armed forces, government and political leadership, including PM Shehbaz Sharif and PTI Chairman Imran Khan, to understand the sensitivity of the situation and work to resolve their differences through sustained dialogue. “Although Pakistan has successfully managed to get off the FATF’s grey list, the country has not been able to secure the resulting benefits. Due to the long march and deteriorating political condition, the investment process in the country has stopped,” noted Bostan. “Were it not for Saudi Arabia and China, Pakistan would have likely faced default. Both friendly countries have also suggested that political deadlock be resolved, so that they can invest billions of dollars into Pakistan’s economy.” Former President of FPCCI, Nasser Hyatt Maggo said, “Investment is impossible without peace and security.”

Published in The Express Tribune, November 10th, 2022.

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