‘4pc reduction in inflation should be announced in new monetary policy’

KARACHI: Hanif Lakhani, former senior vice president of the Karachi Chamber of Commerce and Industry (KCCI) and former vice president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), said that with the decrease in inflation in the country, immediate reduction of 3 to 4 percent should be announced in the new monetary policy.

This would encourage investors and industrialists to pursue new investments and provide employment opportunities to youth in Pakistan, who are becoming disheartened and leaving the country in search of jobs abroad.

Lakhani noted that while government efforts have brought some stability to the economy, and the stock market continues to rise, long-term economic strength can only be achieved if the industrial sector operates continuously. This will be possible only when the supply of electricity, gas, and water is consistent and affordable.

Lakhani also urged the government and opposition parties to set aside their differences and work together to strengthen the country’s economic situation, as political conflicts could weaken the national economy.

Lakhani called on the government to take immediate actions to ensure the benefits of economic stability reach the public, especially by providing support to small and medium-sized businesses to reduce unemployment.

Copyright Business Recorder, 2024