ICCI calls for focus on savings and investment

'Pakistan’s national saving rate is just over 11% of its GDP'

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Sheikh Amir Waheed urged the government on Tuesday to focus on promoting savings and investments in order to spur economic growth in the country.

Waheed said the move will allow generating resources to provide funds for development projects and will help in getting rid of foreign borrowings. He said many countries including China, Singapore, South Korea, Malaysia, India and others have accelerated growth of their economies by focusing on savings and investment, but the performance of Pakistan on this account was not up to the mark.



He said Pakistan’s saving rate is considerably less than that in China and India where it stands at 40 per cent and 38 per cent of GDP, respectively. “Pakistan’s national saving rate is just over 11 per centof its GDP,” Waheed lamented.

Published in The Express Tribune, December 6^th, 2017.

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