Jang Economic Session: Local economists can better resolve issues: experts

LAHORE: The government should call the All Parties Conference (APC) of all stakeholders for reconciliation instead of opposing in every matter to bring the country out of economic crisis while local economists can resolve the issues so there is no need to import experts.

These views were expressed by the experts in the Jang Economic Session on “Impact of government and opposition conflicts on economy and public”. The panellists were Dr Ehsan Malik, Dr Qais Aslam, Qayyum Nizami, Aima Mehmood, Maqsood Butt and Khalique Arshad while the session was hosted by Sikandar Lodhi.

Dr Ehsan Malik said that the government should focus on judicious use of resources instead of taking loans and installing industries. He said local experts understand problems better than the imported ones so they should be taken on board to resolve the issues. He believed that issues could be resolved by focusing on education and production sectors. He said opposition parties should get united for the betterment of the country instead of political gains.

Dr Qais Aslam said difference of opinion was beauty of democracy while current economic situation was outcome of previous governments’ corruption and present government’s incompetence. He said the previous government burdened the country with loans. He suggested the government focus on alternate renewable energy resources to reduce the deficit.

He said the poor were already affected with adverse economic situation while middle class also fell in same category. He suggested inclusion of private sector for poverty alleviation while economic reforms were unavoidable.

Qayyum Nizami said that political and economic stability was the need of the hour as country was passing through critical situation. He said that the government should come towards the charter of economy to end the negative economic impact on public. He said the all political parties should prioritise the country instead of taking accountability process as personal.

Aima Mehmood said that both government and opposition were responsible for political instability. She said the government failed to develop working relationship with opposition in nine months which worsened the situation. She suggested calling all parties conference and stressed the need of reconciliation in the country. She said public adversely affected with economic meltdown while there was a need to revive the investors’ confidence.

Maqsood Butt said that uncertainty in the country was adversely affecting the economy, society, business and trade pushing the investment downwards and increasing cost of production and negatively impacting the exports. He said trade deficit was causing serious problems while disappointment in public was growing, revenue collection declined and economy trapped in deficit. He demanded the government create balance, introduce tax reforms, protect democracy and discourage negative trends in the country.

Khalique Arshad said that uncertain conditions discouraged the local investors while political stability was crucial for economic stability. He said that effective economic system and traditions were correlated with tax collections. He said politics of allegations was unfavourable for the country so the government and opposition develop consensus on economic agenda in order to prioritise the national interests.