Businessmen Panel of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that Prime Minister Imran Khan has put the country on the right track in first 100 days of his government despite facing heavy odds and challenges.
The Panel issued a detailed statement on the performance of the PTI government during past three months and lauded various steps taken by the government to increase the country's stagnant exports, poverty alleviation, transparent governance and firm stance against rampant corruption.
The BMP said that for the first time, Pakistan has openly sought cooperation from the international community for end of corruption and bringing back Pakistan's plundered and laundered money abroad. There are also talks of Chinese model of legislation against corruption in Pakistan, a step that can save the future of the country from this menace. At the same time, countries like Saudi Arabia, Iran, Qatar and Malaysia have also shown a new zest for bilateral ties. It seems that Pakistan is beginning to take its rightful place among the influential countries of the world.
The BMP pointed out that the country is facing heavy odds and it is only with solid conviction and dedication that these enormous challenges can be met. It is the direction and the mindset that matters. The minor details maybe painting a dismal picture but there is light at the end of the tunnel as the fruits of these efforts cannot be gauged before giving reasonable time to the new government.
The Panel recognized that corruption was the major cause of poverty in the country that is why the new government had to take a determined stance against it. The difference between developed and underdeveloped countries is corruption.
"We have so many assets but we are still behind, and our institutions are in shambles - all because of corruption," the prime minister has stressed.
Similarly, the Panel appreciated the government's agenda for development of agriculture sector and welfare of the farming community by providing them financial resources, technology and knowledge and guidance to increase Pakistan's share in huge international Halal food market including export of fisheries which are presently much below the potential despite having a long coastline. A private party has done a pilot project through which shrimp farming can be done".
The BMP said it is a fact that the PTI government found itself in hot waters right from the start. As the new cabinet took oath, the foreign reserves were only enough to pay for two months' imports. The liquidity position forced Imran Khan to halt projects that required an excessive amount of money supply.
Further, the previous government had exhausted all avenues of loans and had spent huge resources on transportation and infrastructure projects, ignoring the prospect of the current deficit combined with the negative balance of payments. The Orange Line, Metros, the new airport and extension of Motorway took away billions of dollars of the government treasury.
Also, the income tax benefit granted to salaried persons reduced the collection of income tax, which brought the current deficit to dangerous levels. Imran Khan took the bold step of spilling the beans in front of the nation and brought all stakeholders onboard. He declared a state of emergency over the government expenditures and launched austerity measures never seen before. Although, these steps look like gimmicks for starters, but if they are enforced during whole 5 years of the PTI government, they are bound to save billions of rupees. It must be appreciated that Imran Khan believes in setting his own house in order before transferring the burden to tax payers, the statement noted.
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