LAHORE: Sardar Usman Ghani, Central Chairman of the Pakistan Hardware Merchant Association (PHMA), has called on the government to implement urgent economic reforms aimed at curbing the trade deficit and reducing unemployment through increased exports and the development of domestic alternatives to imported goods.
In a statement issued on Thursday, Ghani emphasized that the government must take two “bold steps”: an immediate reduction in electricity and gas tariffs, and a cut in interest rates to single digits. He warned that delays in enacting these measures would exacerbate the trade deficit and unemployment, further destabilizing the economy.
“Reducing energy costs and lowering borrowing rates are critical to revitalizing industrial activity and enhancing competitiveness in global markets,” Ghani stated. “The longer we postpone these reforms, the deeper the economic challenges will become.”
Ghani also urged authorities to adopt a collaborative approach by involving private sector stakeholders in policymaking processes. Highlighting the need for efficiency, he stressed that equal representation of industry experts in decision-making bodies would help eliminate bureaucratic hurdles and accelerate economic recovery.
“The government must prioritize public-private partnerships to ensure policies are both practical and impact full,” he added. “Inclusive dialogue with relevant sectors will bridge gaps between legislation and ground realities, fostering sustainable growth.”
Copyright Business Recorder, 2025
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