A day-long moot captioned “Impact of Violent Extremism on Pakistan’s Economy’ concluded at Hotel Pearl Continental the other day under the aegis of All Pakistan Business Forum (APBF), where participants called upon the government to curb the menace of extremism from the society as it was adversely affecting the national economy.
Punjab Governor Honourable Rafiq Rajwana inaugurated the moot, which was attended by industrialists, entrepreneurs, top economists and terrorism experts, who analysed root causes of the menace of extremism and came up with plausible solutions in the form of recommendations to promote and augment economic activities in the country.
Addressing the moot, Punjab Governor Honourable Rafiq Rajwana said that Pakistan is the biggest victim of extremism and this moot is spot on to devise ways and means to restore confidence of investors; not only to augment economic activities in Pakistan but also to give a much-needed boost to the plummeting economy of the country.
APBF President Ibrahim Qureshi said that due to this curse of extremism, we have suffered more than any other country in the world during the last two decades. Extremism has not only resulted in the loss of hundreds of thousands of precious lives but it has adversely affected the economy of Pakistan.
According to Economic Affairs Ministry, during the last decade, Pakistan has suffered financial losses to the tune of $40-$45 billion approximately. Pakistan’s economic growth halted around 2 per cent during this time around.
Ibrahim Qureshi said that continuous extremism activities have badly hurt the soft image of Pakistan among the comity of nations and this moot is an effort to restore the soft image of Pakistan to attract foreign investors. He added that businessmen are facing numerous issues due to extremism in the country and it is the need of the hour that authorities concerned take drastic measures to ensure law and order situation in the country. He said that APBF has pioneered this moot to bring all the stakeholders together to discuss the pressing issue and devise ways to counter the same.
A focus group comprising businessmen, industrialists, top government officials and economists was also formed on this occasion which recommended that since the business community is one of the major contributors towards economic development, hence effective strategies are needed to build confidence of the businessmen to achieve sustainable growth targets.
The moot comprised three sessions. The first one included speakers belonging to the National Counter Terrorism Authority (NACTA), Counter-Terrorism Department (CTD) Lahore, private and public sector businesses and additional inspector general (AIG). A panel of experts held a question and answer session with the participants to share opinions and shed light on matter at hand.
Second section included APBF members and some non-members too while top bureaucrats were also invited to speak on this occasion.
In the third and final section, people belonging to industry, government and APBF formulated a resolution as a framework for future action. As a result a focus group was formed, which came up with pragmatic and rational solutions for prevention of losses and betterment of the businesses and economy.
APBF is a vibrant business association with representation from numerous industries and business sectors. Thousands of APBF members and participating entrepreneurs are collectively promoting and protecting the interests of the business community in Pakistan. The association also advises the government on policy formulation, regulatory realignments, economic reforms and implementation to ensure better quality of life for common citizens.
