LAHORE - The Lahore Chamber of Commerce and Industry Friday called a well thought-out and well-designed strategy to diversify exports to other emerging markets as Europe and North American markets continue to face downward pressures since the beginning of global economic downturn.
“If we do not act now, the economy runs the risk of a downward spiral of uncertainty, financial instability,” he said. He said that an appropriate economic roadmap backed by a well thought-out implementation and monitoring mechanism, is a prerequisite to economic revival of the country. The two sides, the government and the private sector would have to sit together as early as possible to achieve this much-cherished goal. He said that the private sector has the ability to make this country a hub of economic activities.
He said that the fact remains that Pakistan is faced with multiple internal and external challenges. The economy is in bad shape. The law and order is fast deteriorating. There are issues of governance because of which we are sinking slowly but surely. He said that at international front, the country’s image is plunging with every passing day. Its goods are fast becoming uncompetitive while foreign investors are reluctant to even visit this country what to talk of any investment.