President of Hyderabad Chamber of Commerce and Industry Adeel Siddiqui expressed the hope that the decision of the Financial Action Task Force (FATF) to remove Pakistan from the grey list would help improve the country’s trade relations internationally.

“FATF decision will provide a breather to the present government, and the opportunity should be used to improve Pakistan's economy,” he said. “Though the decision would not have immediate bearing on the economy, still it bodes well for the country's financial matters and image abroad,” he said in a statement received by WealthPK.

Adeel Siddiqui hoped the country’s trade deficit would drop to some extent after its exit from the grey list, but underscored the need to overcome the structural weaknesses inherent in the economy, including low investment and declining exports, and to put the economy on a sustainable path. He added that the government should take full advantage of the positive development by establishing strong trade linkages globally.

The HCCI president said the decision was an achievement on diplomatic front for the government. However, he called upon all the stakeholders to strive for bringing political stability to the country so that business activities could be revived for economic progress.

“It is imperative that all the stakeholders play their role in cooling down the political temperature,” he said.

Adeel Siddiqui thanked Pakistan’s friends, particularly China, Türkiye and Malaysia, for extending full support to get the country out of the FATF grey list.

Credit : Independent News Pakistan-WealthPk