Resurgence of terrorism is a threat to investment

Business Reporter
ISLAMABAD: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said terrorism is resurfacing in the country, which has posed threat to local and foreign investment.
The terrorism has restarted soon after China’s plan to heavily invest in Pakistan and Saudi Arabia’s decision to set up a multi-billion dollar refinery which is pointing towards a neighboring country, he said.
Mian Zahid Hussain said that the government and the new army chief should make the elimination of terrorism their first priority so as to reduce the threats to the people and the country’s economy.
Talking to the business community, the veteran business leader said that all the peace agreements made with terrorists have failed. Now instead of talking, strict action should be taken and the country should be freed from this problem forever so that the people and the business community can breathe a sigh of relief.
This time, a new strategy should be adopted to defeat the terrorists because in the past despite the heavy loss of lives and money this disease has not been cured and terrorism resurfaces after some time. Mian Zahid Hussain said that currently, the country’s economy is facing serious challenges while international organizations are not providing the necessary and legitimate support. Pakistan has so far received 738 million dollars for flood assistance despite the promise of 3.4 billion dollars while the overall losses are more than 32 billion dollars. The negative attitude of the international community is creating a human tragedy while the country does not have the resources to deal with it, he observed.
He noted that the global recession and gas shortage in Pakistan is hitting exports and foreign remittances due to which our foreign exchange reserves have come to the lowest level. In these circumstances, the emergence of terrorism is a serious threat to the country, which requires a strong response. He said that the crisis caused by the war between Russia and Ukraine has less influence on the economic conditions of the country and the role of wrong economic policies of the past is more.