(October 26, 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 Wednesday said Finance Minister Ishaq Dar has successfully steered economy out of ICU and now it can survive without external support.
The economy is doing well while growth rate continue to rise which has been supported by a number of international institutions and reputable experts, he said.
Mian Zahid Hussain said that the statement of International Monetary Fund (IMF) President Christine Lagarde regarding Pakistan’s economy is heartening which will bring rumours to an end.
The IMF chief has also lauded the reform agenda of the government and the way it is tackling important issues including energy crisis while she has termed CPEC as a very important project for the development and prosperity of the country, he added.
The veteran business leader said that there are some issues that must be resolved to ensure sustainable progress which include sliding exports, reduced investment and shrinking tax base.
He said that the debt burden has reached to the level of Rs 19000 trillion or 65 percent of the GDP which must be reduced through exports and investments otherwise it will damage economy.
Mian Zahid Hussain also demanded effective actions for reducing corruption otherwise international investors would continue to shy away which will hit the pace of development.