LAHORE: The Prime Minister, Shehbaz Sharif, would have to take revolutionary measures and should revisit his economic team as the economy needs right man for the right job.
In a statement, President of the Lahore Chamber of Commerce & Industry Mian Nauman Kabir said that the economic scenario demands revolutionary measures. A change in economic team can bring the economy back on the track.
Mian Nauman Kabir said that the change in economic team would help improve socioeconomic structure of the country. He said that definitely there is a dire need to set a direction in the larger interests of the country. The LCCI President said that there was an almost catastrophic deterioration in macroeconomic situation in past that has had profound adverse impact on growth rates, poverty incidence, increase in inflation, especially food price inflation and confidence in Pakistan’s ability to manage crises and its future economic outlook that calls for wholesome measures to tackle the situation. He said that interim relief might be absolutely necessary for right now to continue, adding we need to start thinking of a long-term solution to our issues. ”Like any successful corporate body, we must define our objectives clearly and should adopt long-term strategic plans to meet these objectives. The plan must be linked to the population growth for us to deduce how much the food we require, the land needed to produce it, the schools needed to educate them, the jobs required to be created, their transportation and communication needs, hospitals to be built and so on.
He said we must have political stability if we are to industrialize. Political stability can only come with political maturity. Our politicians must now attempt to raise the stature and level of their politics from the present day classroom type boyish squabbles to more constructive criticism of their opponents. They must set themselves down to the task of nation building. To make self-reliance a reality we must be sincere in our decisions and prepare ourselves for some real hard work. Decisions based on vested interests must be shed and merit and sincerity must prevail in all cases.
The LCCI President said that the basic attraction to a businessman is the return he gets on his investment. Thailand, Korea, Malaysia and Singapore, these tigers of the East offer haven like conditions. We must learn, implement and do the same if we are to move forward and make Pakistan ready for the multidimensional challenges. It is not the size of the country but its economic strength in the end that matters. Japan to quote is a prime example. This should be our goal because a strong economy is linked to a strong Pakistan.
Copyright Business Recorder, 2022
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