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Despite concerns over productivity and competitiveness, Pakistan’s business sector wields substantial financial muscle and dominates the economic landscape. The country hosts more than 2.5 million registered firms and an estimated 7m informal enterprises, employing over 70 per cent of the non-agricultural urban workforce. As of August 2025, official records show 265,587 registered companies. Meanwhile, the Pakistan Bureau of Statistics’ 2025 census counted around 7m informal economic establishments, with 28.5pc of households engaged in home-based work.‘Stable markets need credible democratic institutions, consensus-based governance and broad public legitimacy; without these, policy cannot endure and investment cannot flow’
Economic growth cannot happen without the rule of law either.Economic growth can't happen without the stability.
Can’t even say a sentence without spewing Bughaz-e-Imran as usual.Thanks for the video. Despite short on time, I am watching it. Such a breath of fresh air instead of talking about some nebulous pie in the sky 'Riyasat e Medina' BS!!
Patwari bootlickers and faujeets are promoting this farce of 'constitutional' amendment as a source of stability in the country and that the 'business community' is welcoming it.Can’t even say a sentence without spewing Bughaz-e-Imran as usual.![]()
'Spirit of the 1973 Constitution'. Yes, it does. Is it bad? Only time will tell but in a country where a sitting Prime Minister flagrantly throws out a required vote on a No Confidence Motion and then become a hero by paddling his falsehood, don't expect some Jeffersonian Democracy.
The 27th Amendment is for stability and focus. And looking at some prominent business entities' statements, some of them are indeed welcoming it because they, of all people know, that 'stability' is what Pakistan needs. Plenty of countries have advanced to the next stage of their socio-economic evolution by being under 'authoritarian system'. Pakistan needs to shed its half-baked experimentations with 'democracy', tried since 1988 after Zia's death, and put its house on order. The Messiah Khan himself was engineering something like the 27 Amendment stability with some top Generals but didn't work out for him.
The Const. Amendment is trying to create 'stability', which Pakistan sorely lacked since Zia's death in 1988 and which Pakistan badly needed. Economic growth can't happen without the stability.
Here is the perspective of Pakistan's business community. Not all are in favor but some, like me, do see the need for stability for Pakistan to progress.
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Rewriting the rules — a business perspective
‘Stable markets need credible democratic institutions, consensus-based governance and broad public legitimacy.'www.dawn.com
With stakes this high, the business community cannot treat constitutional engineering as a distant political exercise. When power structures shift, markets shake. Yet, when faced with sensitivities and the opaque nature of the proposed amendment, many business leaders chose silence in a debate that could reshape the economic landscape they operate in.
Without taking a hard line for or against the proposed 27th Amendment, several business leaders cautiously urged transparency and broad-based consultation. They warned that hastily rushed sweeping constitutional changes without debate risk deepening public mistrust, unsettling investors and injecting fresh uncertainty into an already fragile economic climate.
“In a country still struggling to stabilise positive sentiments and attract capital for growth, secrecy in public decisions and indecent haste in rewriting the rules of the game are not affordable,” a Punjab-based business leader cautioned privately.
“Historically, Pakistan’s business community may not have championed democratic causes, but decades of navigating shifting political cycles and the requirements of global trade have taught hard lessons,” he noted. “Stable markets need credible democratic institutions, consensus-based governance and broad public legitimacy. Without these, policy cannot endure and investment cannot flow.”
Despite concerns over productivity and competitiveness, Pakistan’s business sector wields substantial financial muscle and dominates the economic landscape. The country hosts more than 2.5 million registered firms and an estimated 7m informal enterprises, employing over 70 per cent of the non-agricultural urban workforce. As of August 2025, official records show 265,587 registered companies. Meanwhile, the Pakistan Bureau of Statistics’ 2025 census counted around 7m informal economic establishments, with 28.5pc of households engaged in home-based work.
Karachi’s business community has been more candid than Punjab’s in assessing the proposed amendment. Ehsan Malik, former CEO of the Pakistan Business Council, offered a detailed note of response, framing the 27th Constitutional Amendment as a potential reset, one that could strengthen stability, clarify authority, and improve policy continuity. In his view, these are prerequisites for long-term investment and sustainable growth.
A key feature, he noted, is the likely return of over Rs500bn of provincial National Finance Commission (NFC) allocations to the centre. Provinces may counter this resource shortfall by imposing selective new taxes, particularly on services, but the shift aligns with the demands of national security and debt-servicing imperatives. It could also compel provinces to finally broaden their own revenue base and pursue long-avoided agricultural and service-sector taxation reforms.
He also noted that provinces posted a record Rs1 trillion surplus in FY25. If reduced NFC flows coincide with continued International Monetary Fund-mandated surpluses, provincial development budgets will inevitably tighten. However, he suggested that a more centralised, priority-driven development model, especially for Karachi, could improve execution and reduce waste, provided coordination mechanisms are strengthened.
“A clearer constitutional framework, including a formalised institutional role for national security structures, could enhance policy predictability and attract strategic capital from the Gulf and China, where investors value stability over fragmented authority,” he argued. “A proposed Constitutional Court could expedite commercial and regulatory dispute resolution, while selective re-centralisation in education and labour may support a unified skills strategy and strengthen productivity.”
Syed Asad Ali Shah, a leading business commentator and former managing partner of Deloitte Pakistan, was blunt in his assessment. Critical of the 26th Amendment passed last year, he warned that the proposed 27th Amendment would further undermine judicial independence and be an extension of the rule of law and justice. “Such changes would be counterproductive to fair dispensation and good governance, undermine investor confidence and damage the entrepreneurial climate,” he cautioned.
“Moreover, major legislation, especially constitutional amendments, must involve consultations with the private sector and civil society,” he said. “There is no justification for rushing such fundamental changes in the country’s constitution.”
Arif Habib, founder of the Arif Habib Group, said he had yet to review the full text of the proposed amendment. However, based on initial understanding, he did not expect it to unsettle business sentiments and believes it will adjust the NFC framework in favour of the federal government.
Majyd Aziz, former president of the Karachi Chamber of Commerce and Industry, lamented the limited access and influence business leaders have in Pakistan’s power corridors. He advised waiting for the formal tabling of the 27th Amendment before forming a definitive view but broadly supported its direction, including a partial rollback of the 18th Amendment.
In his opinion, the 27th Amendment would restructure powers among the pillars of state, increase government efficiency, and curb “the unbridled wastage and plunder of resources by provinces”. If implemented in letter and spirit, he argued, it could boost business confidence.
Shariq Vohra, former president of the Karachi Chamber, criticised the exclusion of business stakeholders from the constitutional reform process. “The draft hasn’t been shared with us, but from what little we know, it appears to centralise power in Islamabad, curtailing provincial authority over the NFC, land regulation, education and population policy,” he said.
“Such concentration will weaken provincial autonomy, shift regulatory approvals to the federal capital, fuel bureaucratic gatekeeping and corruption, and create instability that deters investment, especially for SMEs [small and medium enterprises]. Rather than strengthening democracy and economic governance, it risks ushering in an authoritarian, centralised structure. Major reforms require consultation — not imposition.”
Published in Dawn, The Business and Finance Weekly, November 10th, 2025
For bootlickers, anyone who doesn't agree is a cultist. I am not a fan of PTI - they turned out to be as corrupt as the others.
Showbaaz, plastic bitch, nawaja, madari 10% and billo rani - all 'selected' leaders who don't mind elevating Muneera first to 'Field Marshal' - I am still waiting for someone to tell me exactly which war did he win, and now making him taa-hayat whatever because he is such a gift of God to Pakistan.
This is cringe enough to make anyone throw up - anyone with a bit of self worth that is.
Countries have armies and in Pakistan, Army has a country - in practice that has been true since the first 'Field Marshal' but now they have made it constitutional. Muneera and others who will follow him are above the law - not just practically but now officially.
What’s there to "analyze"? Can’t you simply read the writing on the wall in this "constitutional" amendment and look for yourself where Pakistan is headed after that?![]()
That’s more like a manufactured "consent".The hybrid system needs consent to survive. And it gets it from the rubber stamp parliament.
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