Political stability must for economic improvement: experts

LAHORE:Determination to bring stability through Azm-e-Istehkam operation is very good step but it is also necessary to bring political stability at national level as no economic improvement is possible without it. Azm-e-Istehkam operation is not a new operation, rather it is a continuity of the previous operations.

These views were expressed by the discussants at Jang Economic Session on ‘Will Azm-e-Istehkam positively impact on the economic activities?’ The panellists were Dr Saluhdin Ayubi, Iftikhar Tabasum, Ashraf Bhatti, Abdul Basit, and Dr Hafiz Zafar Ahmed while moderated by Sikindar Lodhi.

Dr Saluhdin Ayubi said that if the economy could have been changed by ambition, the whole world would have done it. The economy is complex, the situation is not good and it is all in front of the government and the opposition. The budget does not seem to solve the problems, it is not possible to solve the economic issues. Only good news in the present circumstances is that inflation has come down considerably. Now it is very important to bring down the mark-up rate for domestic and foreign investment to create a favorable environment for investment, he said.

Iftikhar Tabasum said that the aim of these operations was to improve the economy and end terrorism. Operation Azm-e-Istehkam does not seem to be successful at the time as the results of the last 15 such operations were already known to everyone. The economy will not improve without ending the political instability in the country. Police, judiciary, bureaucracy and all the institutions are weak, he said.

Ashraf Bhatti said that there are over three million traders in country and one million in Lahore. They are earning well and living a good life. It is sad that Pakistan has given us a lot but the traders have not done anything for the country. Traders did not support the government and FBR. Inflation is coming down, businessmen should think about the country, he said.

Abdul Basit said Azm-e-Istehkam is determination and without stability foreign investment is not possible. For this determination, the establishment of peace and order in the country is very important. This will create employment opportunities in the country. This determination shall be against the policymakers who have caused the economy to deteriorate. We waste water by throwing it into the ocean, which is worth more than loans we are asking. The local investors have to be protected for the industrial development in the country, he said.

Dr Hafiz Zafar Ahmed said Azm-e-Istehkam shall be successful otherwise there will be no foreign or local investment come in the country. Azm-e-Istehkam is needed to train the next generation, he added.

The most important task of the government will be to bring stability for the 20 million out of schoolchildren. This will be possible only by taking a serious interest from the government. The need of the hour is that steps should be taken to train the teachers who are already there, he said.