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Business

Restoring trade relations with India laudable

Islamabad, May 12, 2022 (PPI-OT):Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid
Rasheed Butt on Thursday welcomed the decision of the government to normalise relations with neighbouring India.

Such a move will be in the greater national interest as affordable agriculture and other products will be within the reach of Pakistan which will provide some relief to the masses reeling under unprecedented inflation for years, he said.

Shahid Rasheed Butt said that the move, if implemented, will also help the government to reduce inflation while it will also break the back of the influential food mafia skinning masses since years.

He said that Pakistan is facing an acute shortage of wheat while India is the best option to import cheap wheat to bridge the shortfall. Moreover, the government should discourage hoarding and smuggling to bring the prices down.

Shahid Rasheed Butt said that Pakistan discontinued trade ties with India in 2019 which triggered inflation and provided an opportunity for the mafia to make billions overnight but now the situation is changing for good.

The business leader said that our economic situation is worsening day by day and in such a state, it is not advisable to prefer conflict over peace.

Pakistan has allowed India to send wheat and medicines to Afghanistan through land route and it has also taken some other confidence-building measures and now it’s India’s turn to reciprocate, he demanded.

Peace will also help both countries save resources which can be used to tackle economic and other challenges and reduce poverty as peace is the only option for both the nuclear powers.

Mr. Butt lauded the decisions of PM Shahbaz Sharif to reduce the price of wheat flour and ban sugar export, which will stabilise prices in the local market to benefit the masses.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk

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