KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) unveiled the “Revival of the economy” plan prepared by a team of economic experts, saying that the revival of economy at an accelerated growth rate of 7 per cent was necessary which would translate into increasing the GDP by $7bn annually for the next two decades.
Mian Mohammad Adrees, the FPCCI President, urged the government to declare 2015 as year of economic revival. He termed the plan realistic as it is based on feasible measures to ensure sustainable growth. He said that the FPCCI has drafted the policy carefully, honouring all international contracts, including the conditions of the IMF policy framework signed in 2013 and the obligations of GSP Plus status granted by European Union.
It seeks strict implementation of the ‘Fiscal Responsibility and Debt Limitation Act, 2005’. It calls for financial liberalisation to encourage expatriate Pakistanis to invest in Pakistan in the wake of limited local resources and insufficient foreign assistance.
In the 1990s, even India accelerated the pace of development through mainstreaming Indian expatriates. It hammered the theme of regional economic integration for achieving sustainable source of economic prosperity in the longer term.
