‘Shehbaz Sharif wants to revive economy as soon as possible’

Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr Shahid Rasheed Butt on Tuesday said Prime Minister Shahbaz Sharif is concerned about the economy and wants to revive it as soon as possible.

Masses, as well as the business community, have full faith in the abilities of the Prime Minister and they are expecting an economic turnaround.

Shahid Rasheed Butt said that the new government should focus on increasing exports, solve the problems of the export sector, provide cheap energy, fix electricity and gas tariffs, and pay the stuck refunds.

He said that system of refunds should be made fully automated to relieve exporters of the capital shortage.

There is a shortage of containers which is making export difficult and costly while the industrial sector is getting half of the required gas which has increased the business cost and is affecting the competition in the international market, he said.

The business leader noted that currency should be stabilised so that investors could take long-term decisions which are necessary for the economic revival. Mr. Butt noted that the PTI government left foreign exchange enough to cover imports for two months, current account deficit of Rs20 billion and 13 percent inflation is also on the credit of former government. Government is spending Rs60 billion monthly on petrol subsidy while Rs75 billion are being added to the circular debt.

 

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