Business community warns govt policies threaten economic stability

ISLAMABAD: Members of the business community have warned that economic stability cannot be achieved if the government continues with what they describe as ‘anti-business’ measures. 

They stressed that while increasing tax revenue is essential, it should not come at the cost of harming businesses. Instead of imposing excessive taxes and restrictive policies, they argued, the government should work closely with traders and entrepreneurs to create a more favourable economic environment.    

Speaking on the issue, business leaders urged the authorities to engage in proper consultations and build consensus to resolve economic challenges. They stated that supporting trade and investment is crucial for economic growth and protecting the interests of businesses.   

Referring to a recent government action against a restaurant, they claimed it was discouraging for investors and could hurt overall business confidence. They called on the government to refrain from steps that could disrupt economic activity, particularly in the current challenging financial climate.    

According to Business Recorder, Fazal Moqeem, president of the Sarhad Chamber of Commerce and Industry, said the government must keep private stakeholders informed about legal actions affecting businesses.  

“If any business is in violation of regulations, authorities should collaborate with the business community and ensure they are taken into confidence rather than imposing sudden penalties,” he stated. 

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