ISLAMABAD: Businessmen and economic analysts on Sunday expressed grave concern over the PTI’s call ahead of the upcoming Shanghai Cooperation Organization (SCO) summit, urging the party leadership to reconsider and postpone their decision.
While foreign dignitaries are scheduled to arrive in Islamabad to attend the SCO discussion, the former ruling party has announced another protest in the De Chowk area of the federal capital on October 15.
The PTI spokesperson also announced that all district-level protests have been suspended in view of the upcoming demonstration in the federal capital next week.
The party founded by Imran Khan has launched a series of protests for “independence of the judiciary” – as the government aims to introduce constitutional amendments – and for the release of its founder who has been imprisoned in Adiala prison in Rawalpindi for more than a year.
Speaking to state news channel PTV, economists criticized PTI’s protest call during the SCO summit as “self-destructive”, citing concerns about economic instability and damage to Pakistan’s global image.
Stressing that the SCO conference served as an important platform to promote regional economic cooperation, the Islamabad business community expressed hope that the PTI would reconsider the decision to protest in the national interest of the country.
Renowned economist Dr Noor Fatima said: “This move will undermine Pakistan’s credibility in the international community. We need to focus on economic diplomacy, not political posturing.”
She stressed that “the Shanghai Cooperation Organization conference represents an opportunity to strengthen our relations with countries in the region.”
Industrialist Mirza Ikhtiyar Baig warned that PTI’s invitation could jeopardize the country’s chances of benefiting from this platform.
“The SCO conference is crucial to reviving Pakistan’s economy. A protest call will only create uncertainty and deter foreign investors,” he said, adding that Pakistan needs to showcase its “economic potential, not its political divisions.”
“Economic interests first”
Meanwhile, the business community also urged the Imran Khan-founded party to back down from its protest call, saying it was the right time for the country to focus on its economic prowess and not on “divisive politics”.
“We must put our economic interests first. This move will have long-term consequences for the Pakistani economy,” said a trader in Islamabad.
Another trader in Lahore said: “The SCO conference is crucial to facilitating regional trade, which could be disrupted by the previous ruling party.”
Muhammad Fahim, president, Karachi Chamber of Commerce and Industry, said: “PTI’s call has created uncertainty among traders. We are concerned about the impact on our business.”
Moreover, Jameel Paracha, a wholesale market trader in Karachi, said this is not the time for politics, but stability to boost the economy.
“We urge PTI to reconsider its decision – our companies cannot afford further instability.” Khawaja Shehbaz, President, Lahore Chamber of Commerce and Industry, confirmed.
“We need to prioritize economic growth over political interests,” said Ayesha Khurram, president of the Islamabad Women’s Chamber of Commerce and Industry.