Director, International Hardware Association and former Central Chairman Pakistan Hardware Association, Sardar Usman Ghani has strongly criticised the proposal to curtail development expenditures by Rs 140 billion. Ghani, in a statement on Friday said the proposal is against all norms as the long established international practice in managing economic affairs during recessionary periods is to increase spending on public works programmes.
He further said that it would be wiser on the part of the government if it refrains from brining any such idea that may create more problems for it. He said that fast galloping graph of unemployment had already become unmanageable for those who are sitting at the helm of affairs.
He said that the perennial and complex nature of economic problems being faced by the country call for urgent and effective measures. He said that the government needs to address severe energy crisis by taking reforms to tackle price hike, production and distribution inefficiencies instead of taking decisions like cut in development expenditures.
He invited the attention of the government towards Public Sector Enterprises that are eating up billions of rupees annually. He suggested that the government could easily generate required money by initiating process of restructuring and reforms for the Public Sector Enterprises. He said that Pakistan was blessed with exceptional human and natural resources and if right policies were evolved with a tailor-made implementation mechanism, Pakistan could become a dynamic economy in near future.