Business community reject setting high expectations from PML-N govt

KARACHI: The business community has rejected to set high expectations from the Pakistan Muslim League Nawaz (PML-N) government to end the current economic crisis and political instability through its recent policies.

The businesspersons and their association huddle met an unexpected situation at the Federation House Karachi which was attended by prominent business figures, industrialists, traders and office-bearers of the concerned associations.

The huddle of the businesspersons was organised to gain confidence in the incumbent Pakistan Muslim League Nawaz and its allies-led government in the Centre following the policies to stabilise the national economy and create a business-friendly environment.

However, it proved to be a futile bid as a faction of businesspersons led by Jameel Paracha, the chairman of the Sindh Tajir Ittehad (STI), left the huddle before its completion and held a separate meeting in Karachi.

The Paracha-led session was later held on the theme of the recently imposed sales tax on electricity bills for commercial consumers. The traders have not only condemned the imposition of hefty sales tax but they gave a three-day ultimatum to the government to withdraw the decision, otherwise, the businesses will be shut down.

On the other hand, the Federation House meeting remained inconclusive as no declaration was issued after its completion. The PML-N government failed to collect the desired support from the business community.

The community categorically rejected to set high expectations from the incumbent government in ending the economic crisis in the coming days.