Acts like sit-ins & protests inflicted great loss to economy: Abdul Basit

July 27, 2015 Off By Web Desk

Lahore: All segments of society would have to supplement the government efforts aimed at economic revival of the country.

“There is a dire need of understanding that acts like sit-ins and undue protests had not only caused undue damage to the national economy but had also tarnish image of those elements that were responsible for all of these ills.”

In a statement issued here, Chairman Punjab Board of Investment & Trade (PBIT) Abdul Basit said that economic health of the country is getting better with every passing day due to well-planned practical economic policies of the present regime.

Abdul Basit said that despite conspiracies of some political elements, the country’s economy was now on the right track after concrete steps taken by the present regime.

He said that international institutions like World Bank and IMF have declared that Pakistani economy is back on track and has made a significant progress.

Chairman PBIT said that Pak-China Economic door is the lifeline of the country and it would be completed at any cost. He said that Pak-China Economic door would open new avenues of progress and prosperity. It would not only help Pakistani economy excel but would also create millions new opportunities for the Pakistani workforce. He said that those who are chanting slogans against Pak-China Economic Corridor are not well wishers of the country.

He said that government has already initiated meaningful discourse with the private sector to boost up Foreign Direct Investment (FDI) that is not up to the mark.

He said that rising risk perception about investing into Pakistan is hitting hard the entire economy but government is tackling the issue through a comprehensive policy approach by involving Chambers of Commerce in the country.

Abdul Basit said that government was addressing all key issues including energy crisis on priority basis and various power projects were in the pipeline.

He expressed hope that employment opportunities would increase following an increase in business activities, adding that once the country’s economy is put on the trajectory of growth it would have a consequential impact on inflation. “Market competition will increase; resultantly products prices will come down and their quality will improve with new investment in different sectors.”

Abdul Basit also urged the heads of political parties to join hands for early construction of Kalabagh dam to get rid of the devastation of deadly floods.

He said that Kalabagh dam would not only produce cheap electricity but would also ensure sufficient availability of water for irrigation.