Absence of good governance has fuelled unrest and political instability in the country which is very damaging for the economy, a business leader said Monday
Islamabad (Pakistan Point News / Online - 11th November, 2019) Absence of good governance has fuelled unrest and political instability in the country which is very damaging for the economy, a business leader said Monday.Deteriorating economy, increasing unemployment and continued inflation has taken a toll on the masses and now they are running out of patience, said Shahid Rasheed Butt former President ICCI.He said that political and economic stability cannot be ensured through borrowing, tall claims, and flowery speeches and use of force as it requires an understanding of the economy.
Shahid Rasheed Butt said that the reasonable demands of the masses and the frustrated the business community should not be ignored for long as it results in anger which creates space for the extremist elements.The government need to improve governance and the economy which is going down due to many reasons that should be fixed without delay otherwise the human and economic costs of the unrest will rise.Investors always get more nervous when they see fiscal consolidation and austerity measures that are followed by massive protests which alter their decisions, he said.
The anger is growing in masses over inflation, inequality, and lack of the ability of the Federal and provincial governments to deliver on their promises, he noted.He said that increased political intolerance and runaway inflation has supported the current protest in Islamabad which should be a wakeup call for the rulers as their inaction can result in countrywide protests.The political parties should not push the economy to the point of collapse or they would face deadly civil unrest, he warned.
