Government needs to revisit economic policies-Yassar Sakhi Butt

Islamabad, August 13, 2012 (PPI-OT): Our country has been observing many ups and downs since its independence and could not move in the trajectory of economic growth so far. We never had any concrete strategy with a clear vision which could taken us to the roads towards progress and prosperity, solving core issues and bring economic revival.

There should have been plan for practicing good governance for sustaining and maintaining a sound political and socio-economic system in the country as in the years since independence Pakistan has made no huge progress, Yassar Sakhi Butt, President Islamabad Chamber of Commerce and Industry (ICCI) made these remarks while addressing business community at the occasion of Pakistan Independence Day.

He said that China, India, Sri Lanka, Bangladesh and other countries of the region have made tremendous progress adopting good governance principle that have given boost to industrial as well as agricultural and many other allied sectors. On contrary, economy of our country was going down by the passage of every day which calls for urgent and decisive actions by the Government, he added.

ICCI President said that apart from energy crisis, many other problems like rising fiscal deficit, surging inflation, dwindling production, declining investment, unemployment and low growth have become hallmark of our economy. Combined and sincere efforts are needed from the Government and all the relevant stakeholders to mitigate their adverse impact and to turn around the economy, he maintained.

He was of the view that Pakistan is also facing multiple internal and external challenges because of inconsistent economic policies. Economic stability can only be achieved by practicing continuity of consistent economic policies, he opinioned.

Yassar Sakhi Butt said that for the robust economic development of the country, industrial growth attaches great significance, but in Pakistan industrial activity has been slowing down, even the number of sick industries was on rise due to shortage of energy and non-exploitation of available alternate sources of energy and poor polices of the Government. ICCI President said that there was a dire need to devise a national energy strategy for achieving an adequate level of economic efficiency and productivity.

For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

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