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Economic situation to improve in 2014

06 January, 2014

LAHORE: The business community has said that 2014 would be better than the preceding calendar year as the political and economic situation would improve.

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LAHORE: The business community has said that 2014 would be better than the preceding calendar year as the political and economic situation would improve.

According to them, GSP Plus Status, work on hydle power projects, incentives to the businessmen through withdrawal of harsh budgetary measures and government resolve to strengthen public-private sectors consultation had already laid the foundation for putting the economy back on rails.

Pakistan as well as the Saarc region would experience relative stability in 2014 which will have a positive impact on the overall situation, said Zubair Ahmed Malik, President FPCCI.

He said that rupee would see stability and the forex reserves would improve while inflation, budget deficit and unemployment would be reduced to some extent.

We expect that different organs of state would come closer, judiciary would continue to come up to the expectations of masses and relations between Islamabad and New Delhi would improve, he added. The FPCCI chief said that the key to stability of Pakistan lies with politicians, army, economic managers and the clerics.

Moreover, he said that politicians should stop protesting on streets so that their differences may not have a negative impact on overall environment.

Zubair Ahmed Malik said that army should take decisive action to uproot terror and bhatta mafia so that masses and the business community should feel safe while economic managers should frame enabling policies.

Malik said that the issue of missing persons may be resolved in 2014 while corruption would be reduced.  He said that Pakistan should decide about Iran pipeline or stop wasting time over it to save energy for alternative means including incentives of exploration companies.  Zin Block contains more gas than Sui but it is not being utilised since decades which is amazing. "We are not short of resources or talent but sincere leadership," said Malik.   Pakistan Industrial and Traders Associations Front has hoped that the year 2014 would prove an year of economic revival.

The PIAF chairman said that the previous government failure to take appropriate measures to overcome the economic challenges and to control law and order situation had pushed the country to the wall. Negative sentiments not only discouraged the local investors but the foreign investments also remained alarmingly low. The PIAF Chairman Malik Tahir Javaid said that an objective review of the outgoing year would reveal a sorry tail of mismanagement as the gas connections were given on political grounds instead of giving priority to the manufacturing sector.

He said that the feel good factor since the present government has assumed the charge has given new hope to the businessmen.

He said that winning the GSP Plus Status and government focus on power projects would help bring much needed Direct Foreign Investment besides bringing down the graph of unemployment that has gone up to considerable level.

Courtesy: The Nation

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