President Federation of Pakistan Chambers and Commerce and Industry (FPCCI) Irfan Iqbal Sheikh has said that coalition government’s GDP growth rate target of 3.5 percent is an unrealistic target.
According to him, it is difficult for the country to achieve 3.5 percent growth rate because economy is already under pressure due to floods, Ukraine-Russian war, etc.
Sheikh sahib has given a plausible explanation to prove his point that the 3.5 percent growth target is not realistic. The state of economy is more than precarious, to say the least.
Import restrictions in particular have played havoc with economic activity in the fiscal year 2022-23. Having said that, I must say that I strongly believe that creativity holds the key to economic growth.
Unfortunately, however, the incumbent government is bereft of any creative ideas to arrest the country’s economic slide. The 3.5pc growth target is nothing but a pipe dream of this government.
A. B. Awan (Rawalpindi)
Copyright Business Recorder, 2023
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