ISLAMABAD: The only solution to the current economic problem is through growth and export-based industrial investment for which a cut in interest, industrial electricity tariffs and bringing taxation laws at par with other regional countries is imperative.

This was stated by former caretaker minister for Commerce and Industries Gohar Ejaz.

He further stated that the real solution of country’s economic problems is not through refinancing those existing loans from new International Monetary Fund (IMF) backed loans, but it was only one aspect of the current issues.

“The solution is through growth and export-based industrial investment. We have to put our natural industrial and human resources to work. Our economic policy has to lead us towards creating new jobs and prosperity,” Ejaz added.

He further said the only way was to cut interest rate to six percent in next year at par with region and industrial electricity tariffs to nine cents at par with regional tariffs and bring taxation laws at par for all.

The annual budgets area document of direction and commitments of the government it has to be a beacon of hope and opportunity for Pakistan entrepreneurs and the whole world to invest in Pakistan with a clear road map to take the economy from $350 billion to $1 trillion in next 10 years, Ejaz added.

Copyright Business Recorder, 2024