Economists slam PTI's protest call during SCO moot as 'self-destructive'

ISLAMABAD: Businessmen and economic analysts have expressed deep concerns over the Pakistan Tehreek-e-Insaf’s (PTI) protest call at Islamabad’s D-Chowk ahead of Shanghai Cooperation Organisation (SCO) summit.

The former ruling party had announced holding another protest in the federal capital's on October 15 — the day all-important moot would begin.

PTI spokesperson had announced that all district-level protests were suspended given the forthcoming demonstration in the federal capital next week.

The Imran Khan-founded party had launched a series of protests for the "independence of the judiciary" — as the government aims to introduce constitutional amendments — and for the release of its founder jailed at Rawalpindi’s Adiala Jail for more than one year.

Talking to state news channel PTV, economists slammed PTI's protest call during the SCO summit as "self-destructive," citing concerns over economic instability and damage to Pakistan's global image.

The business community in Islamabad stressed that the SCO conference was an important platform to promote regional economic cooperation and hoped that PTI would reconsider the decision to protest for the country’s national interest.

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.”

"The SCO conference is an opportunity to strengthen our ties with regional countries,” she emphasised.

Industrialist Mirza Ikhtiar Baig warned that PTI's call might jeopardise the country’s chances of benefiting from this platform.

"The SCO conference is critical for Pakistan's economic revival. The 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 take back its protest call, saying that 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 Pakistan's economy " said a trader in Islamabad.

"The SCO conference is crucial for regional trade facilitation, which could be disrupted by the former ruling party,” another trader in Lahore said,

Muhammad Fahim, president of the Karachi Chamber of Commerce and Industry, said, “PTI’s call has created uncertainty among traders. We are worried about the impact on our businesses.”

Moreover, Jameel Paracha, a trader at the Karachi Wholesale Market, said this was not the right time for politics, but rather stability to boost the economy.

“We urge PTI to reconsider their decision — our businesses can’t afford more instability.” Khawaja Shahbaz, president of the Lahore Chamber of Commerce and Industry contended.

Ayesha Khurram, president of Islamabad Women’s Chamber of Commerce and Industry, said. “We need to prioritise economic growth over political interests.”