ISLAMABAD
\nThe business community fully endorses the proposed 27th Constitutional Amendment, calling it crucial for economic recovery, national unity, and defense readiness.
\nFormer Islamabad Chamber of Commerce president Shahid Rashid Butt stated that Pakistan cannot sustain a strong defense with a weak economy and urged all parties to support the reform in the national interest.
\nDuring an emergency meeting of traders and industrialists, Shahid Rasheed Butt explained that the amendment aims to fix a fiscal imbalance that has harmed the federation since the18th Amendment. He said that the earlier reform reduced fiscal discipline and hurt the center\u2019s ability to handle debt payments, defense, and development.
\nProvinces have surpluses over PKR 600 billion, while the federal deficit exceeds PKR 5 trillion, which is clearly unsustainable, he pointed out. He added that after gaining fiscal autonomy, provinces did not expand their revenue base, improve public services, or enhance internal security.
\nThey received large federal transfers but failed to deliver funds to the people, causing deprivation, unrest, and even violence.
\nHe noted that their increasing debts despite high funding show financial mismanagement.
\nThe business leader emphasized that the 27th Amendment is not a political move but an economic necessity to strengthen democracy, the judiciary, and defense by fixing federal finances. The proposed plan would increase federal resources, lessen dependence on borrowing, and promote fair development across provinces. Butt warned that without urgent reforms, the economic crisis would worsen, hurting business, investor confidence, and national security.
\nHe said stabilizing the financial system is vital for Pakistan\u2019s future, urging political parties to reach an agreement to protect the economy and support sustainable growth. Shahid Rasheed Butt pointed out that the reform aligns with IMF recommendations for fiscal consolidation and transparent use of provincial funds. Business leaders at the meeting called on the government and opposition to agree on a charter of the economy to maintain better policies beyond political cycles.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The business community fully endorses the proposed 27th Constitutional Amendment, calling it crucial for economic recovery, national unity, and defense readiness. Former Islamabad Chamber of Commerce president Shahid Rashid Butt stated that Pakistan cannot sustain a strong defense with a weak economy and urged all parties to support the reform in the national interest. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-513008","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n