Positive steps required for economic revival: ICCI)

ISLAMABAD –– Pakistan has been facing serious challenges, and positive steps are required for the economic revival of our country, which has tremendous potential and many natural resources.

Pakistan should learn lesson, specifically from China, which as per IMF report would, become the world largest economy in the next 5 years, said Mahfooz Elahi, President, Islamabad Chamber of Commerce & Industry addressing economic group of ICCI.

It is a deep concern for the business community that after even 60 years, Pakistan economy was showing unstable trends, putting businesses at great risk, President opinioned.

Mahfooz Elahi was of the view that still no visible economic revival plan was in sight to overcome the growing problems. Serious efforts should have been afoot to address the confronted challenges, which were posing very serious threats for sustainability of businesses.

He said that the current business environment presents a depressing outlook and has stopped the process of industrialization and investments in many sectors. These pressures have triggered a sense of insecurity in the business community and majority of the business were verge to close in these circumstances. Government must develop strong coordination with a businessman to boost up their moral and confidence, announcing and implementing a sustainable and long term policies, said President ICCI.

Mahfooz Elahi said that the Government needs to trust on the business community and must take it on the board, while making various national policies. The lack of a strong nexus between the Government and a business community was also one of the fundamental issues that should be looked into to find a way forward.

President ICCI said that our leadership must realize the gravity of problems that has seriously damaged the economy and assign tasks to the respective ministries to come up with solutions instead of wasting more time indulging it self in non-productive issues.

He showed a great concern that due to poor economic policies local and foreign debt were compounding and to pay off these huge liabilities, ultimately business community and common man would have to bear this burden. President demanded that critical issues must be resolved, instead of lip service.

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