The computer vendor industry has requested the Ministry of Finance to devise an action plan to save the small and medium vendor's industry from on-going economic crises with particular focus on the power shortage, revenue collection and broadening the tax-base to generate additional revenue in remaining five months of 2010-2011.
In a statement issued here on Saturday, Munawar Iqbal, the Central President of Pakistan Computer Association (PCA) emphasised upon an action plan to revive economy. The government should consult private sector to confront the energy crisis and to confront key issues related to economy effectively.
To redress the prevailing dismal economic conditions in the country, the government ought to come forward with a comprehensive action plan. In this connection, steps need to be taken so that key issues regarding businesses, trade as well as overall economy could be dealt with in an effective manner.
He said that low economic growth, high food inflation and cost and shortage of energy, rising unemployment, alarming increase in government borrowings, poor revenue collection were the issues that demand urgent measures. Moreover, low foreign and local investments ought to be a matter of concern and hence, appropriate steps are required to redress the problem, he said.
The Central President of PCA said that the credit by banks is being made more expensive for the private sector as a result no investment is being witnessed in any sector of the economy. He said that new business ventures were imperative to generate economic activity and employment in the country. He said that the tight monitory policy could not bring any positive results. Therefore, Pakistan should review its course of action. He said that the political instability as well as fragile law and order situation has also hampered the economic activities.
While emphasising upon an action plan to revive economy, he said that government should consult private sector to deal with energy crisis and to confront key issues relating to the economy effectively. The proposals from business community could be sought as the scale of challenges demands a collective national wisdom and policy.