Political Stability Key To Economic Growth: Iftikhar Malik

SAARC Chamber Senior Vice President (SVP) Iftikhar Ali Malik Friday said political stability was imperative for ensuring economic progress in the country.

ISLAMABAD, (UrduPoint / Pakistan Point News - 25th May, 2018 ) :SAARC Chamber Senior Vice President (SVP) Iftikhar Ali Malik Friday said political stability was imperative for ensuring economic progress in the country. "If proper steps are not taken immediately to end political instability in Pakistan, major chunk of business would be affected badly," he said while talking to a delegation of city traders, a press statement said. He said, in the last 13 years, Pakistan had experienced both war and political problems, stressing the need for introducing economic reforms to addresses various issues it had been facing. He said Pakistan had all resources to become an economic giant but only need is to set directions with zeal, courage and sincerity.

He said Pakistan's huge mineral resources could help get rid of the economic ills. According to a rough estimate, value of coal reserves in Pakistan is 187 times more than the GDP of Pakistan and only 2% of Pakistani coal reserves can generate 20,000 MW of electricity for almost 50 years. In addition to copper and coal, the country has vast reserves of precious stones, gypsum, salt and marble but instead of taking full advantage of these resources most of the share was being exported in raw form.