Faiq hopes for stabilizing economy after striking a deal with IMF


Founder and chairman of the Amun Taraqqi Party Muhammad Faiq Shah said the country’s economy was still in dire straits, hoping that striking a preliminary agreement for the release of $ 700million from a $ 3bn bailout package with the IMF would stabilize the national economy.
Commenting on the performance of the Special Investment Facilitation Council (SIFC) that formed under the economic revival plan, Shah said the initiative was commendable toward attracting investment with the Gulf Cooperation Council (GCC), but results are not very promising for this forum.
He said his party has already given a workable mechanism/joint board proposal for economic and political stability, if it would be implemented, definitely, the progress will come in the country.
However, he asserted the government should adopt ‘Diplomacy for Investment’ and special tasks should be given to diplomats, deputed in Pakistan’s mission abroad rather than taking only cosmetic steps.
Talking to a group of economic reporters here on Sunday, the party leader called for providing facilities to local investors under Single Window Operation that would also restore confidence of the foreign investors and would make investment in multiple sectors in Pakistan.
The ATP chief said agriculture, investment and industries should be prioritized.
He asked to exploit the indigenous natural resources that will help to stabilize the economy by earning huge foreign exchange and also no more dependence on loans, and IMF and make the country economically self-reliant.
About the current political scenario, Shah stressed that a transparent and fair election is the only solution to drive out the country from a crisis situation and the government and Election Commission should take all possible steps in this regard, he added.
The party chief said agriculture is a guarantee for economic prosperity and development.
He asked to provide facilities, modern tools and technical assistance to farmers to improve the yields and bring green revolution and reduce dependence on imports of food and other items.
He also called for replacing the National Accountability Bureau with National Agriculture Bureau (NAB) so that it will support the sinking economy of the country and revival of the ruined agriculture sector.