LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) has come up with a seven-point action plan to revive the country’s economy.
Talking to the media here on Thursday, PIAF Chairman Sohail Lashari said political harmony, ten-year energy plan, methodology to end corruption, plan to enhance agricultural yield, minimum dependence on foreign and domestic loans, lowering of mark-up for the sake of industrialisation and plan to improve law and order were the features of PIAF’s economic revival agenda.
“Government should immediately initiate work on these points to get rid of economic ills being faced by the trade and industry,” he said.
According to Lashari, political uncertainty has caused damage to the economy as not only foreign investors have stayed away but on the domestic front too there is hardly any investment.
He said the government should prepare a 10-year energy plan so that the business community is able to continue their businesses with peace of mind. He pointed out that only because of massive fluctuations in electricity rates, the businessmen had avoided taking foreign orders.
Lashari pressed the government to announce a methodology to end corruption, which would improve the plunging reputation of the government. In this regard, he cited corruption in rental power projects, which had sent a wrong signal to the international community.
He also asked the government to lessen its dependence on domestic and foreign loans by curtailing non-development expenditures on day-to-day activities.
According to Lashari, mark-up on loans “is the highest in the region”, which has brought the process of industrialisation to a halt.
Published in The Express Tribune, February 3rd, 2012.
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