ISLAMABAD: The economy of Pakistan was achieving good growth in 2013 and work on CPEC projects was going well, but after 2018, the work on CPEC projects slowed down due to which the economy suffered.
However, the current government is working hard to put the economy back on track in order to stabilize it. The opening of Khunjareb Pass is a good sign for a better economic future of Pakistan. This was said by Muhammad Baligh ur Rehman, Governor Punjab while addressing an iftar dinner hosted by the Islamabad Chamber of Commerce & Industry in his honor.
Many dignitaries including Qaiser Ahmed Sheikh Chairman NA Standing Committee on Finance & Revenue, former Senator Lt. Gen. (Retd) Abdul Qayyum, H.E. Jemal Beker Abdula, Ambassador of Ethiopia attended the iftar dinner.
Muhammad Baligh ur Rehman said that the business community has a key role in the economic development of the country and the government is determined to support them.
He said that countries are run through taxes and lauded the role of the business community in paying taxes and contributing towards the welfare activities to help the poor and needy. He said that it is very important to facilitate the business community that would help create more jobs, improve tax-to-GDP ratio, reduce poverty and stabilize the economy.
He said that the construction of Rawalpindi Ring Road, repair of Kahuta Road and completion of IJP road should be expedited. He assured his cooperation to ICCI for the establishment of a new industrial zone in the region.
Speaking at the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry said that ICCI is working for a new industrial zone in the region and the Punjab Government should cooperate in identifying a suitable land for this important project to promote industrialization. He said that the pace of work on IJP Road should be expedited for its timely completion.
He said that Rawalpindi Ring Road is very important to address the traffic congestion issues in the twin cities and stressed that the Punjab Government should expedite this important project. He said that the Punjab Government should arrange early repair of Kahuta Road to facilitate the industries of Kahuta Industrial Triangle.
Faad Waheed, Senior Vice President, ICCI said that Pakistan needs to boost exports to improve its forex reserves, but the SBP has further increased interest rate to taking it to 21 percent that would create more problems for industrial sector and urged that the SBP should reduce interest rate to facilitate the private sector.
