KARACHI: Resident Representative of International Monetary Fund (IMF), Tokhir Mirzoev, has said that although Pakistan’s GDP growth has improved to 4.1 percent but it was not enough as faster growth rate was needed to create more employment opportunities and absorb new entrants into the job market.
Speaking at a meeting during his visit to Karachi Chamber of Commerce and Industry (KCCI) which was attended by President KCCI, Iftikhar Ahmed Vohra, Former President KCCI AQ Khalil, Former Senior Vice President KCCI, Shamim Ahmed Firpo and KCCI Managing Committee members, the resident representative of the IMF said that Pakistan’s economy was gradually improving and heading towards stability as various economic indicators have been progressing well due to lower oil prices, lesser inflation, robust remittances and sustained foreign reserves.
Commenting further on prevailing economic scenario in the backdrop of lower oil prices, Tokhir Mirzoev said that luckily, it has created opportunities and now it all depends on how Pakistan uses it. In order to ensure that the economy stays on track, structural reforms were needed to improve the overall tax base and the business climate of the country, he stressed.
Advocating KCCI’s demand to bring maximum number of tax evaders into the tax net, Tokhir Mirzoev said that relying on borrowings was not the right option, Pakistan must raise its revenue by enhancing the taxpayers’ base so that the revenue generated could be utilized on various development projects pertaining to energy, health and education etc.
