ICST backs PM’s efforts to revive economy

ISLAMABAD: Islamabad Chamber of Small Traders (ICST) on Monday said business community backs the efforts of the Prime Minister Imran Khan to revive the economy.

The government is facing serious challenges like budgetary mess, an unsustainable external sector, are near-term risks that would be settled soon, it said. The government will soon overcome problems after which the positive policies will unleash rapid economic development, said ICST Patron Shahid Rasheed Butt.

He said that the government would not only improve the economy but also boost the image, ranking and the GDP of the country as it is not accepting harsh IMF conditions which has added to its image.

Shahid Rasheed Butt said that Pakistan would soon start attracting more remittances and investments that will contribute to the stability of the country. He said that the industrial sector and the export sector is gaining strength due to various steps of the government while agriculture is getting due importance.

The prime minister seems serious about boosting exports through incentives

and improved supply of energy, he said and added the recently announced decisions have improved confidence of the investors as the moves have reduced the cost of doing business for the export sector.

Pakistan’s economy has experienced a steady erosion of its competitive advantage during the last few decades which would be reversed by the PTI economic managers. The business leader said that economic stability will be achieved through good economic policies, but the current situation cannot be averted by loans from friendly countries, commercial borrowing, or remittances from overseas Pakistanis.