Pakistan Business Community Advises PM to Reconcile with Opposition for Economic Stability

Wed Apr 24 2024
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KARACHI: Pakistan’s business community on Wednesday advised Prime Minister Shehbaz Sharif to engage with imprisoned PTI founder Imran Khan to bolster the country’s economic stability.

During a meeting between the business community and PM Shehbaz Sharif, which marked his first visit to Karachi since assuming office in March, prominent businessman Arif Habib lauded the prime minister for instilling confidence in investors through stabilization measures, leading to a surge in the Pakistan Stock Exchange (PSX) past the 72,000 points mark.

The PSX’s benchmark KSE-100 index soared to 72,335.89 points, marking a 1.37% increase from the previous close. However, it closed at 72,051.89 points after gaining 692.49 points or 0.97%.

Arif Habib observed that PM Shehbaz Sharif had already formed alliances with the Pakistan People’s Party (PPP) and other political groups. He recommended the prime minister extend gestures of goodwill further, both towards neighboring countries like India and political opponent Imran Khan.

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Arif Habib stressed the importance of political unity in tackling Pakistan’s economic challenges, emphasizing the need for cooperation across party lines.

Responding to these suggestions, PM Shehbaz Sharif expressed his desire not to take sole credit for the positive developments in the country. He emphasized the importance of seizing opportunities and prioritized the country’s focus on exports and economic growth.

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PM Shehbaz Sharif assured transparency in the ongoing privatization process and invited foreign companies to participate. He reiterated that the government’s role should be to provide policy support rather than directly manage industries, emphasizing the shift from a rent-seeking mindset to one centered on hard work.

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Earlier in the day, the prime minister visited the Mazar-i-Quaid, where he laid a floral wreath and offered prayers.


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