Only trade can help mitigate crisis’ in Pakistan

Commerce secretary for making constructive changes in old business models

LAHORE: In current times when the coronavirus has adversely impacted economies around the world, the need to pragmatically assess the situation, strategise and ensure sustainability beats all, remarked a federal secretary.

In a live session organised by the Iqbal Institute of Policy Studies (IIPS), Parliamentary Secretary for Commerce Shandana Gulzar Khan stated that it was her firm belief that only trade and not aid would help Pakistan move forward.

Through the Ehsaas Emergency Cash Programme, the government had been able to help daily-wage workers in these adverse times, she stated while defending the government’s strategies to counter the impact of Covid-19.

“Unless and until all businesses move forward step by step, we will not be able to push up our economy from the bottom. For that purpose, we need to make constructive changes in our previous business models.”

Speaking about opportunities and possibilities in the real estate sector, Imarat Group of Companies Chairman Shafiq Akbar emphasised that the need to be creative with product alignment and strategies was very important as the post-Covid environment would be very different from the current situation.

“We may not be able to achieve the goal of Digital Pakistan any time soon but what we can do is to draw up policies that encourage businesses to grow,” he remarked.

IIPS Advisory Board President Lt General Haroon Aslam said the world had faced a surge in unexpected consequences due to the coronavirus outbreak, which was causing major economic disruption with a severe impact. Various techniques to mitigate the impact of the pandemic and kick-start the economy were necessary to adopt, he said.

Event participants gave their insight into how the pandemic was adversely affecting economic activity in the country, the long-term adverse impact post-Covid-19 and how other countries were coping with the circumstances.

Published in The Express Tribune, June 23^rd, 2020.

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