Moving Forward: UBG lauds govt efforts

ISLAMABAD: The United Business Group (UBG) of FPCCI on Friday said the latest IMF review proves economic achievements of the government as the finance minister and his team has paved the way for development thwarting any chance of default. Pakistan was facing a serious balance of payments crisis in 2013, which has been buried, paving the way for microeconomic stability and economic success, it said in a statement. UBG Chairman Iftikhar Ali Malik and Patron-in-Chief SM Muneer said in a joint statement that microeconomic stability has been achieved and now government should consider increasing the pace of reforms. They said that situation of debt servicing is satisfactory and the remaining structural weaknesses should be settled at the earliest. They added that government should push the sale of bleeding state-run enterprises which continue to waste over Rs500 billion per annum that results in a higher budget deficit.

Published in The Express Tribune, January 16^th, 2016.

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