Need to work on Karachi's infrastructure for betterment of economy: Hafeez Shaikh

Adviser to Prime Minister on Finance Abdul Hafeez Shaikh said that there was a need to work on the infrastructure of Karachi for the betterment of the economy.

Shaikh, while talking to the media at the Pakistan Stock Exchange (PSX), said that things were improving after the provincial and federal government started working together.

Earlier in his address at the PSX, the adviser said that right now Pakistan was “Asia’s best market”. However, he said that everyone knew how the economy was and there was a need to find the best team to deal with the situation.

The adviser also called for the “autonomy” of institutions, assuring the PSX that the government was working to bring in investment in the country.

“The budget was increased despite a reduction in government expenditure,” Shaikh told the media. He added that the government was providing subsidies for electricity, gas, tube wells and fertilizers.

The adviser also told the businessmen that if their refund claims were not cleared within the next 72 hours they can contact him.

“We will work together and take full advantage of the potential of the national economy,” Shaikh told the investors at the stock exchange.

He also urged the businessmen to find new markets for Pakistani exports, adding that by working together they will fulfil the dreams of the Pakistani people.

The adviser assured them that the government was determined to provide a “conducive environment to investors in the country”. He added that no country can progress without trade and investment with other countries.

Before his address, the adviser also opened the PSX trading session for Monday.