(3 September 2018)
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 that not for the first time in the Country’s history, Prime minister is leading the economic advisory council which shows his interest in resolving economic issues of the Country on priority.
The veteran business leader while talking to the business community said that in the past, minister finance used to lead the EAC with no consistency in their meetings, but current government has announced monthly meetings of this council which shows its sincerity in resolving economic problems of the Country on priority. Under economic advisory council, measures in accordance with recommendations of the economic experts will be taken to get the Country out of the ongoing economic troubles. The members of the council are comprised of experts in the field and highly qualified; 11 out of 18 members of the council are from the private sector.
The former minister said that business community expects from that this council will form immediate, long term and effective policies to develop business, trade, industry and human resource and government will take revolutionary measures in light of those policies. It is also expected from EAC that immediate measures will be taken to grow exports, stabilize currency and supportive environment for foreign investment. Foreign exchange reserves has fallen to a greater extent for which government needs to form a vibrant investment policy for overseas Pakistanis and Prime Minister Imran Khan, should initiate bonds and sukook according to his announcement in order to reduce stress on the foreign exchange reserves, he added.
Mian Zahid Hussain said that in July export has increased by 1.16 pc to $ 1.65 billion but simultaneously imports have also reached to $ 4.84 billion widening the trade deficit to more than $ 3 billion. The finance minister and members of the economic advisory council are required to take measures to cater the worst economic situation using their full potential. The relevant departments and ministries should take instant implementation of the recommendations of this council to develop the Country’s economy and practical measures will be required to get benefits of the this important council.