KARACHI: Without balancing its international trade, Pakistan cannot gain the goal of economic prosperity.
This was stated by economics experts at post-budget seminar, organized by Institutes of Cost and Management Accountants (ICMA) of Pakistan here at a local hotel on Monday night.
In his key note address, former Finance Minister for Sindh and prominent economist Syed Shabbar Zaidi said that federal budget for new fiscal year was just a game of numericals like all other budgets of the country. He said that this budget had been prepared without keeping in view any solid economic policy.
Zaidi was of the view that by growing GDP poverty could not be reduced as the benefits of this growth were going to a particular class and not to the masses. He said that people of subcontinent were the richest two centuries ago but now the situation was totally different.
“The main reason behind our poverty is that our international trade is not balanced, we export cheap products and import expensive items as a result, we face a big deficit,” he asserted and added that without balancing this trade gap, Pakistan could not get economic prosperity.
Chairman Arif Habib Corporation Arif Habib, Zubair Motiwala, Mirza Ikhtiyar Baig and Abudl Wasey Khan also spoke.
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