PBF exhorts govt, opposition to jointly formulate ‘charter of economy’

LAHORE: Pakistan Business Forum Lahore Chapter while criticising what it said, the non-serious attitude of the government and the opposition towards resolving the economic crisis being faced by the country has called upon the political forces to join hands for devising a charter of the economy which could lead the country out of the present marsh.

PBF Lahore President Muhammad Ejaz Tanveer said the power struggle between the thirteen parties in the current government and the Tehreek-e-Insaaf is leading the country nowhere and all the forces should join hands for the betterment of the country’s economic situation.

Ejaz Tanveer in a statement alleged that the worst situation of the country’s foreign exchange reserves and the constantly rising prices and scarcity of dollars had made business impossible. Due to it, industries have been forced to close down rendering hundreds of thousands of workers jobless and creating apprehensions of starvation in their families.

Shortage of electricity, gas and unaffordable prices of petroleum products in Pakistan compared to international prices were hitting people hard but the rulers and state elites were spending lavishly on their protocols and travel, he added.

In such a situation, it is necessary that both the government and the opposition realize the seriousness of the situation and make a charter of the economy and reduce the government expenditure.

Suggesting a way out, Ejaz Tanveer said all government events and non-development expenditures should be curtailed. Salaries and allowances of all members of the assembly, senators, ministers, and councillors should be stopped. Foreign visits of the rulers and state elites, protocol, and big vehicles should be stopped.

All types of non-productive and non-developmental expenditure should be stopped for the time being, while the on-ground reality is that luxury vehicles are being imported which is another burden on the national exchequer.

Ejaz further said that the looted wealth should be brought back to the national treasury through the accountability of all the rulers and those holding authority in the past.

He said that the government should formulate such a comprehensive policy by consulting all the stakeholders that can bring the country and the nation out of the economic quagmire as soon as possible.

Copyright Business Recorder, 2023