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Consensus at pre-budget seminar: speakers call to get rid of IMF and World Bank

The solution to the major issues including lawlessness, terrorism, poverty and unemployment lies in self reliance and getting rid of the IMF and the World Bank. It was the consensus of the various speakers at a pre-budget seminar organized by the Jamaat e Islami here on Sunday.

JI Secretary General Liaqat Baloch chaired the seminar held at Lahore Press club, which was also addressed by Dr Farid Ahmed Piracha, former President of Lahore Chamber of Commerce and Industry, President, Traders wing of the PML-(N), Muhammad Ali Mian, former Member FBR, Sarfraz Ahmed Khan, Kisan Board chairman Haji Muhammad Ramazan and others.

He stressed upon the rulers to retrieve around four hundred billions of the nation lying in Swiss banks. He said that foreign investment in the country would remain a dream as long as the ruling elite continued transferring their own money abroad.

He said that Karachi is the economic hub of Pakistan and until and unless target killings and extortions were controlled, the national economy could not improve. He urged Prime Minister Nawaz Sharif to adopt concrete measures for restoring peace in the port city.

Bloch said that India, a staunch enemy of the country, was bent upon ruining our industry and agriculture through water terrorism by building dams. He said that in the coming budget, the government must allocate funds for a major dam. He said the technical experts had termed the Bhasha dam unviable on technical grounds, therefore the government should immediately decide to complete the Akori Dam on war footing.

The JI Secretary General said that the present rulers had held out rosy promises to the masses in their election campaign but they had proved a failure during their first year rule. The masses had been disappointed by the corruption and bad governance of the government which was spending huge funds of projects like metro bus but ignoring major national institutions like Railways and the PIA.

He said that the interest based economic system was dying out all over the world yet the Pakistani rulers were not ready to withdraw their petition lying in the Supreme Court in support of the interest.

Sarfraz Ahmed Khan, in his address, urged the government to abolish the oppressive taxation system and introduce a just and balanced taxation system. He said that relief could be provided to the poor by introducing 70 per cent direct taxation and 30 per cent indirect taxes. He said that despite acute water shortage, 26 million acre feet of water was being drained out into the sea.

Muhammad Ali Mian stressed upon the rulers to go ahead with the Pak-Iran gas pipe line project rejecting all outside pressure in order to overcome the energy crisis.

Copyright Business Recorder, 2014



 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln