KARACHI(INP) The United Business Group (UBG) of FPCCI on Sunday lauded the economic direction of the government terming it beneficial for the whole population. Provision of additional energy to the export-oriented textile industry will help country benefit from the recently awarded GSP plus status to Pakistan, it said.
IMF has recently said that Pakistan’s economy is well on track and able to absorb minor shocks which supports the economic direction of the government, said Zubair Tufail, Secretary General UBG.
In a statement issued here today, he said that decision to provide gas to industry in Punjab will save jobs, provide employment to many and help Pakistan improve the forex reserves through exports. He said that youth should be given more opportunities to boost economic activity as they are fully capable to produce encouraging results.
Zubair Tufail said that circular debt is a big threat to economy and investment therefore it should be culminated forever.
He said that the fruits of decision of Finance Minister Ishaq Dar to merge stock exchanges are visible now and his stress on transparency is laudable. The improved performance of the stock exchange is reflective of the policies of the government which must be sustained.
Government should revisit some policies, reduce deficit, boost development expenditure, lure foreign investors and overseas Pakistanis, and pay special attention to generate revenue from millions who have never been taxed, said Tufail.
