War against terror put economy into shambles: Zardari

[Omar1984]

War against terror put economy into shambles: Zardari
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KARACHI: Pakistan has suffered immensely due to the war against terrorism and the nation’s economy is in a shambles due to flight of investment by foreigners, said President Asif Ali Zardari on Tuesday.

Addressing the 34th Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Awards at the Governor House, Zardari said that businessmen should support the government by understanding the challenges it is facing, adding that it is trying its best to facilitate investors by providing them the best infrastructure and incentives.

He stated that the government is also doing its utmost to tackle economic issues such as gas and power shortages. In addition, the floods devastation has also pushed the economy back. Zardari said that “the level of aid provided by foreign countries highlights the trust other countries have in Pakistan and its government.”

The president also blamed the previous government for the challenges the country is facing, adding that “bad governance by the previous leader led to the entire nation having to pay the price for his mistakes.”

Commerce Minister Makhdom Amin Fahim said that a high-level convention, in which all Pakistani consulates and its representatives will be asked to discuss measures to improve the image of the country and trade with other nations, is being planned.

He said that the ministry is working on increasing trade levels with non-traditional markets and several steps have been taken towards that end. Referring to the awards programme, Fahim said that the ministry of commerce encouraged such events as they help to boost the image of local industries at an international platform.

President FPCCI, Sultan Ahmed Chawla, highlighted the problems facing businessmen and stressed that they should be taken into confidence when key decisions are made about the running of the economy. Mehtabuddin Chawla, the CEO of al Karan Towel Industries Pvt Limited, won the President of the Year Award while the Best Businessman of the Year award went to M Ghaffar Chaudhry. Seventy other awards were given.

Published in The Express Tribune, October 6th, 2010.

 

[SMC]

Yes, corruption by PPP and the thug at the top himself (one making this speech) is Musharraf's problem and also investors should be nice about that.

 

[Nothing]

Expenses of war against terrorism is just a tip compare to corruption. (we pay 10% to15% tip over the bill )

 

[Tayyab1796]

it certainly is but what about those lengthy entourages of bullet proof cars , Rental power solution , kick backs in tenders , illegal allotment of government land , money laundering , out of FBR settlement of taxes from businessmen (remember khanani and kaliya exchange scam) ... the list goes on and on ... Mr. President you don't know a feck about economy u can only milk the cow but u give a damn about fodder.