KARACHI: Chairman of National Business Group, President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has said that the economy cannot grow on the basis of wishes or tall claims; it requires business-friendly policies, reforms in many sectors including public sector enterprises, decision based on merit and years of hard work. Mian Zahid Hussain said that government has planned to boost the growth rate to six percent during the last year of its tenure which will push imports to $75 billion while increasing exports to $35 billion will be a challenge.
He said that the prices of petroleum products, LNG, etc. will increase which will put pressure on the exchequer, adding that there is no shortcut to rapid economic development. He said on average Pakistan growth rate has remained 1.8 percent less than the South Asian countries over the last three decades.
The business community play a central role in improving the growth rate and the absence of enabling environment for them will never help increase growth and revenue while the achievement of revenue target of Rs5800 billion will remain a far cry. Mian Zahid Hussain said that cornering businessmen will never help reduce the miseries of the masses and help the government overcome financial difficulties.
He said that the recent budget has focused on industry, agriculture, SMEs and documentation but some decisions have resulted in discontent among the businessmen representing different sectors.
Copyright Business Recorder, 2021