Economics & Business

Administration pushing traders to starvation

Malik Sohail Hussain, President Traders Welfare Association (TWA), Blue Area speaking at executive body meeting

Dated: Islamabad: National Traders Alliance (NTA) on Thursday said interest rate cut by 100 basis points is encouraging but symbolic. It has furthered hopes but seems insufficient to boost economy. The statements of national and foreign leaders regarding Swat situation is fuelling uncertainty. Administration is pushing traders to starvation. The recent statement of US Secretary of State Hillary Clinton regarding Taliban’s advance towards Islamabad should be taken seriously, said Malik Sohail Hussain, VP NTA, President Traders Welfare Association (TWA), Blue Area and former SVP, ICCI.

The situation has harassed traders as well as commoners. Numerous are planning to windup businesses in anticipation, he said. “If government continued to deal traders as invaders than we will have no option to become crusaders,” warned Malik Saghir, Chairman TWA. Speaking at an executive body meeting Syed Amin Pirzada, Ahsan Bakhtawari, Liaquat Noon, Haji Naeem, Shahid Alam, Shakil Aziz, Raja Hassan Akhtar, Yusaf Rajput, Abdullah Malik, Furqan Murtaza, Arshad Jangua, Ch. Wasim, and others said that administration is pushing retailers to starvation by remaining indifferent to genuine problems.

They said that some local and foreign quarters are issuing irresponsible statements regarding situation in Fata and Swat, which is creating uncertainty. This will have very negative effects on limping economy. Taliban are now 60 miles away from federal capital but wise moves of the government can stop their advance, they hoped. “We dismiss the notion that Pakistan is a threat to US and whole world; our nuclear weapons are in safe hands and US alarm is unfounded and compounded.”

Majority holds a romantic view of Taliban because courts, police and the whole system have made their lives difficult. People do not have sufficient food, security education, medication and access to other basic facilities. Government should do something about it in urgent basis.

“The interest rate cut by State Bank of Pakistan is a positive but symbolic move,” said Malik Sohail and Malik Saghir adding that sometimes we should do exactly opposite to what IMF says to bolster economy.

Traders welcomed the move of the government to establish a Social Security Directorate is Islamabad and assured cooperation to its Director Chaudhry Tariq Ahmed Khan. The heavily attended meeting reposed full confidence in leader ship of President Malik Sohail Hussain and Chairman Malik Saghir. They said that we would continue to support the cause of TWA under his banner.

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Mian Ahsan Liaqat

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