Government urged to review monetary policy

Consultation with business community needed to solve economic problems, says Pakistan Computer Association President.

KARACHI: The government ought to come forward with a comprehensive action plan and steps need to be identified so that key issues regarding businesses and trade could be dealt with in an effective manner, said Pakistan Computer Association (PCA) Central President Munawar Iqbal.

Speaking at the general body meeting of the PCA, Iqbal said that low economic growth, high food inflation, shortage of energy, rising unemployment, increase in government borrowing and poor revenue collection are the issues that demand urgent attention. Moreover, low foreign and local investments should be a matter of concern and hence appropriate steps to address the problem must be taken.

He said that tight monetary policy could not bring any positive results. Therefore, the government should review its course of action. Political instability as well as fragile law and order situation have also hampered economic activities, he added.

Iqbal asked the government to consult the business community as the scale of challenges demand a collective national wisdom and policy. However, the corrective measures need to be taken immediately keeping in view the deterioration of economy, he concluded.

Published in The Express Tribune, February 6^th, 2011.