President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has lauded the decision of the Prime Minister Imran Khan to resolve the issues faced by builders and developers.This sector is providing jobs to millions while around forty industries are depended on this sector that is facing multiple issues which is hindering its growth.

Talking to the business community, he said that Prime Minister Imran Khan has issued directives to resolve the issues of builders and developers including tax and price of inputs which will enable stakeholders of this sector to work with peace of mind.

He noted that a reduction of 73 percent has been recorded in the current account deficit during the first five months of the current fiscal due to import compression.

The import bill has come down from $6.73 billion to $1.82 billion but discouraging imports only will not resolve the issue. It will require exports and encouraging remittances for which PM has constituted a high-powered committee.

The committee headed by Advisor Finance Dr Abdul Hafeez Sheikh include: Zulfiqar Bukhari, former minister finance Shaukat Tareen, Governor SBP Raza Baqir, and secretary finance which will chalk out ways and means to increase remittances through legal channels by encouraging overseas Pakistanis and local banks.

Copyright Business Recorder, 2019