The Lahore Stock Market (LSE) and the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) have rejected the civil disobedience call by the Pakistan Tehreek-e-Insaf (PTI) terming it highly detrimental to Pakistan’s recovering economy.
The LSE chief executive officer and managing director, Aftab Ahmed Chaudhry, told APP on Monday that the PTI gave the civil disobedience call without having any prior assessment of its adverse impact on country’s overall economy, and law and order situation.
To a question, Aftab Chaudhry said the government functions and delivers on taxes collected from the people and companies on various accounts, adding the non-payment of taxes and utility bills would ultimately hamper the government’s functioning and subsequently the economy.
The PTI’s call, he added, would also result in consumers’ agitation as they may quarrel with meter-inspectors/readers and tax officials which would definitely create a law and order situation and impact negatively all sectors of the economy.
To another question, the LSE managing director said that the PTI’s move also gave a very wrong signal to the foreign investors, who make investments for long term, adding that Pakistan’s stock markets were showing nervous reactions for the last one week.
He said a negative impression was given in the foreign world that a political leader in Pakistan had given a civil disobedience call, asserting that this impression was shying away the foreign investors to put their money into projects and joint ventures in Pakistan.
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