To revive the economy, Pakistani Prime Minister Shehbaz Sharif urged trade talks with India

Islamabad: Pakistan’s business community asked Prime Minister Shehbaz Sharif to start trade negotiations with India in order to foster trade and business, which would significantly boost the cash-strapped nation’s economy.
During an hour-long meeting on Wednesday at Pakistan’s commercial capital, Karachi, the business community praised the prime minister’s resolve to address economic issues but suggested that in order to “turn around” the economy, he should concentrate on establishing political stability.

The Prime Minister met with business leaders to discuss ways to boost exports and the economy, but their concerns were met with apprehensions that it was “almost impossible” to do business in the current climate, given the high cost of energy and the government’s inconsistent policies, according to the Dawn newspaper.

Following the prime minister’s short address, business leaders expressed their gratitude for the government’s recent actions but also made further requests during the question-and-answer period in the house.

They also discussed ideas for economic measures to accomplish the intended goals.

Business executives were so concerned about the nation’s political instability that they even counseled the prime minister to take the lead in leading the government.

Arif Habib, the head of the massive capital market Arif Habib Group, stated, “You have made a few handshakes after taking charge that have produced good results and progress on the IMF deal is one of them.”

According to the article, they also requested that the prime minister start trade negotiations with India.

“I advise you to shake hands a couple more times. Trade with India is one of them, and it would be very beneficial to our economy. Second, you need to likewise make amends with an inmate of Adiala Jail (a reference to PTI leader Imran Khan, who is incarcerated). I think you can accomplish that; try to make the necessary corrections at that level as well.”

After India revoked Article 370 of the Constitution on August 5, 2019, removing Jammu and Kashmir’s special status and dividing the state into two Union Territories, the two countries’ relations fell apart.

Pakistan reacted strongly to India’s move, downgrading diplomatic relations and expelling the Indian representative. Moreover, Pakistan and India no longer have direct trading relations.

Jammu and Kashmir “was, is, and shall forever” be an essential part of India, the nation has informed Pakistan on several occasions.

In response to questions about political stability, Prime Minister Sharif said he had taken note of his suggestions for economic expansion and promised to bring businessmen from all over the nation to Islamabad so they could sit down with him “until all the issues aren’t resolved.”

The business magnate recommended that Shehbaz Sharif have negotiations with the PTI’s founding chairman, Imran Khan, who is now incarcerated, ostensibly to promote political stability.

Arriving in the port city for the first time since taking office one month ago, Shehbaz Sharif described the gathering as an effort to hear the “brilliant minds of business, absorb what they say and put it into action” for a complete blueprint for economic progress.

“You guys have excellent business brains… It is necessary for you to go ahead now and conclude this leasing business. Let’s triple exports in the next five years and concentrate on real development in the agricultural and industrial sectors. It’s challenging, but not unachievable. For me, it’s an article of religion. I would hear what you have to say and devise a strategy to implement it.”

He remembered ‘East Pakistan’, which was “once considered” a burden on the nation but had made remarkable achievements in industrial growth—a subliminal allusion to Bangladesh’s growing economy.

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“We were taught that it was a load on our shoulders when I was really little.You are all aware of the current state of economic development at which that “burden” has reached. And when we turn to face them, we feel humiliated,” Prime Minister Shehbaz Sharif said.