Pakistan's business community refrain from idea of extending caretakers' tenure

Islamabad [Pakistan], December 19 : The business community in Pakistan as a whole does not support the notion of prolonging the duration of the caretakers' governance, even if they acknowledge that Prime Minister Anwaarul Haq Kakar has improved the economic situation of the country, an opinion piece in Dawn read.
Rather, the business community emphasises the value of stability, progress and unanimity in favour of prompt elections and a peaceful handover of power to the incoming democratically elected government.
Dawn is a Pakistani English-language newspaper. It is the largest English newspaper in Pakistan and also serves as the country's newspaper of record.
Numerous private-sector forums have praised the present government's efforts to stop smuggling, manage power theft and line losses, and boost consumer and investor trust.
The recent upturn in the capital market, consistent financial inflows from donors and a small number of foreign investors, and the relative stability of the currency market have broken the negative economic news cycle.
Though troubles with credit, high taxes, and electricity costs continue to be worries, the outlook for the economy is not as dire as it previously was.
According to Dawn, many corporate leaders, earlier, had a different opinion in Pakistan. While some were overtly hostile to democracy, others harboured intense animosity towards the political elite due to their alleged ineptitude and corruption.
A portion of them openly backed military rulers, perhaps not because of a lack of choice but rather because they thought the leaders better fit Pakistan's environment, the Pakistani newspaper reported, citing the opinion.
They would use the GDP growth statistics chronology to illustrate their point about how relatively stable and rapidly the economy grew under military rule.
A number of former presidents of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) have disassociated themselves from an existing organisation that could jeopardise Pakistan's already difficult path, according to Dawn.
The Pakistani Election Commission (ECP) had announced that general elections would be held next year.
In accordance with Section 57 of the Election Act, the Election Commission announced the general election date. The notice stated that the general elections would be held on February 8, 2024, in accordance with the Supreme Court's ruling.
The former FPCCI (Federation of Pakistan Chambers of Commerce & Industry) president Mian Nasser Hayat Magoon, according to Dawn, had said: "Nothing is acceptable at the cost of democracy."
Whereas Chaudhry Muhammad Saeed, another former president of the FPCCI, expressing his views from Mirpur, Pakistan-occupied Kashmir, firmly advocated for timely elections.
"The country cannot afford any more disruptions in the political process," he said, and he criticised deceptive elements for generating unfounded controversies, asserting that such elements peddle fear for personal gains, ultimately harming the interests of the country and its people.
In a well-attended meeting with the caretaker prime minister, Kakar, industrialist Arif Habib categorically rejected any talk of extending the existing government's term.
Influential Karachi industrialist Majyd Aziz echoed the views and reaffirmed his support for elections to be held on time in Pakistan, according to Dawn.
Meanwhile, Ehsan Malik, CEO of the Pakistan Business Council, expressed his enthusiasm for broad changes intended to address systemic problems in the economy.
"Fundamental reforms require both time and political will, qualities more readily available to a government with a five-year mandate. The caretaker government has done a good job in setting us on the right course," he remarked.