LAHORE - The Lahore Chamber of Commerce and Industry (LCCI) has stressed the need for national reconciliation to cope with wave of terrorism being faced by the country in the larger interests of the economy. In a statement issued on Wednesday, the LCCI President Mian Muzaffar Ali urged all the political forces to show harmony in their ranks as disunity among the political parties was creating a sense of misrule and mismanagement among the masses and the anti-social elements and the enemies of the country were the major beneficiaries of the situation. Mian Muzaffar Ali said that the country had been witnessing a very depressing economic scenario wherein no local and foreign investor was ready to make investment while poverty and unemployment are rising. The graph of inflation is touching its peak, exports are not very encouraging while the Large Scale Manufacturing sector was in bad shape. He said that in prevailing situation, economic prosperity has become a dream and it would be wiser on the part of the federal government to take corrective measures to put the house in order. The LCCI President, who looked very disturbed over the ongoing political and economic situation, said that Pakistan is a resource rich country with huge potentials but it has failed to make its presence felt only because of mismanagement of affairs and inconsistency in policies. He said that there are elements in the government who are used to make issues out of nothing thus putting the whole system at stake besides earning a bad name for those who are sitting at the helm of affairs. He said that the minor technical issues are always overlooked by leading economies as it was the strong US judiciary that allowed the second oath-taking by the US President Barak Obama without any ripples on the national front. Had the issue been here, the situation would have been quite different. Mian Muzaffar Ali said that economic turnaround was the only answer to present crisis but there are little chances of desired economic growth in the prevailing circumstances. "The Federal government needs to adopt a wholesome approach towards the ongoing issues instead of adopting adhoc policies which were aggravating the situation with every passing day." He said that political antagonism was sending a wrong signal abroad and creating a wrong image of the country and we would not be able to remove this stigma in coming years. Meanwhile, the LCCI President has hailed the SBP decision to allow one-time waiver for 90 days to all the exporters whose export proceeds were overdue as on Dec 30, 2008. As per SBP circular, the waiver for 90 days, which was valid up to end of March 2009, has been extended up to June 30,2009.