July 11, 2016
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Monday said arrival of Prime Minister after a gap of 48 days will result in increased political and economic stability.
His return after heart surgery had curtailed rumors that increased confidence of the business community, he said.
Mian Zahid Hussain said that after arrival, PM’s took first briefing on economic situation from Finance Minister Ishaq Dar while his second briefing was about security situation which indicate his preferences which are in the larger national interests.
He said that economy is already progressing but now this matter will get personal attention of the Prime Minister which is heartening.
The construction sector is giving good results helping dozens of allied industries including cement and steel while reducing unemployment while LNG policy has reduced gas shortfall which has infused new life in the fertilizer sector.
Last year Pakistan spent hefty amount on import of fertilizer while now manufacturers have over fifteen million tonnes in the stock, he said.
He noted that automobile sector is buoyant while foreign exchange reserves are at satisfactory level which is enough to infuse confidence in the business community.
Fertilizer sector is giving good results but offtake has seen a fall of thirteen percent due to reduced income of farmers for which government should consider increasing their income or subsidy on fertilizer otherwise it may hurt growth rate in the agricultural sector, he warned.
The veteran business leader appealed Prime Minister to remove anomalies in Federal Budget 2016-17 expeditiously to curtail problems of business community, while attracting attentions of Prime Minister on budget anomalies.