RCCI shows concern on growing political & economic uncertainty



RAWALPINDI, OCT 6 – The Business community of Rawalpindi city has shown strong concern on growing political uncertainty which ultimately affect the economy of the country and urged the government to resolve issues amicably.

The Rawalpindi Chamber of Commerce and Industry (RCCI) President Mohammad Nasir Mirza on Tuesday while talking to different trade delegations at chamber house said that the business community has grave concerns on growing political and economic uncertainty as both are interlinked with each other. The stock market hit badly and dropped more than 1000 points in a single day and on a bearish trend. Investors, especially foreign investors can only be attracted once we have political stability and continuation of economic policies.

After Corona, 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 here, he suggested.

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

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

The chamber’s platform will always be available in raising its voice to solve the problems of the traders, whether it is a matter of facilities or tax reforms, the chamber has always played its due role, he assured.

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 that the business community has gone through a lot of hardships. Recent political instability will have a negative impact on business and investment and urged the government to address the given situation immediately.