LAHORE
\n\u201cThe Pakistan Business Forum has called on the country\u2019s policymakers to find a possible solution to clear the country\u2019s debt. Without it, our economic growth will continue to deteriorate in the coming years.\u201d
\nPBF Vice President, Chaudhry Ahmad Jawad stated these remarks on the eve of Quaid\u2019s birthday cake cutting ceremony and said Pakistan\u2019s total debt is around $125 billion as of today, and that\u2019s certainly a lot of money for us but not for China and the United States.
\n The big Chinese and American companies are three times as big as our total debt. The value of China Petroleum & Chemicals Corporation is $326 billion and the value of Walmart Inc of the United States is worth $570 billion.
\nJawad said the burden of paying foreign debt and paying interest is increasing in Pakistan. The country continues to borrow, mainly to pay back old contributions and finance its current account (CAD) deficit.
\nThe solution is simple, we should permanently join the US OR China on the condition of repaying our country debt and we will be your ally being an ideal geographical location in the world with readily available warm water and one of the best military. And the $125 billion amount is nothing to them.
\nIf not, we will remain in the vicious circle of the IMF and other funding agencies and therefore our rupee will be even weaker, as their condition is to consistently suprass the currencies of the underdeveloped countries. Likewise, we can increase our tax revenue, market traders must be in the tax grid with the flat tax method.
\nEven shops in rural areas too. Also our agricultural sector must be in the tax net those who have landholding of 12 acres and above. Similarly government expenditures must be reduced at an appropriate level.
\nPBF official called upon all political parties to agree on economic charter in order to ensure the continuity of economic policies. Pakistan should not afford new economic policy after every 5 years, that\u2019s why our FDI\u2019s are decreasing. As Quaid said \u201cIf we want to make Pakistan prosperous, we must focus only on the welfare of the masses\u201d
\nJawad further said PBF has supported the federal government\u2019s decision to implement an energy-saving policy, which plans to close shops at 8pm and wedding halls at 8pm. 10pm due to the current difficult economic situation.
\n Our energy import bill has increased to $28 billion and continuing to increase like this will create more difficult situations, he asserted, adding that an energy saving policy Energy would guarantee national savings when the country imports oil and gas, meaning the country will save foreign currency.
\nWe suggested the government that restaurant hours may be extended by one hour until 11pm. The rest is limited to wedding venues and shop schedules will be required by the hour. This will save over 62 billion rupees per year.
\nHe said markets around the world close around 6 or 7 pm and Pakistan is the only country that is not using the benefits of daylight and the scheme is no longer being granted as the country is going through a difficult time through the difficult economic situation.
\nThe current economic situation forces people to change their habits. If the country remains within its own resources, people must change their habits. Even in the very affluent Gulf countries, the market closes at 9-10pm.
\n\u201cWe should be telling people that the implementation of these measures is inevitable and Anjuman-e-Tajran should understand that it is necessary. You are not ready for a flat tax, nor are you in favor of the government\u2019s energy dialogue policy. You must choose at least one; he lamented.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE \u201cThe Pakistan Business Forum has called on the country\u2019s policymakers to find a possible solution to clear the country\u2019s debt. Without it, our economic growth will continue to deteriorate in the coming years.\u201d PBF Vice President, Chaudhry Ahmad Jawad stated these remarks on the eve of Quaid\u2019s birthday cake cutting ceremony and said Pakistan\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":178035,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[11951],"class_list":{"0":"post-303532","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-pbf"},"yoast_head":"\n