LAHORE: Institute of Chartered Accountants of Pakistan (ICAP), Lahore Chamber of Commerce and Industry (LCCI) and Pakistan Institute of Public Finance Accountants (PIPFA) Tuesday announced for collaborating to develop a comprehensive document on charter of economy.
In this regard Minister of State and Chairman Reforms and Resource Mobilization Committee Ashfaq Yousaf Tola led an economic briefing session, which was organized by LCCI,said a press release.
Speaking on the occasion, Ashfaq Tola said that charter of economy was a dream that will soon be realized and suggested that stakeholders should sit with ICAP, suggest solutions, bring up issues one by one, and work to resolve them.
President ICAP M. Ali Latif addressing the event said that political stability is important for economic stability and then growth, adding that country is currently suffering from severe political instability which is having a direct impact on our economy.
It is imperative that efforts be made to bring together all stakeholders through sectoral consultative sessions for framing this charter of economy, he said adding that the most important stakeholders are the political parties as without their express commitment to implement the charter, it would only reduce to a piece of paper.
The sectoral policies of tariff and taxation would be developed with an aim for Import substitution after obtaining comments from FBR & Ministry of Finance and urged political parties to share their economic manifestos and engage in debates on important economic issues, he added.
Speaking on the occasion, President LCCI said that Pakistan has been facing economic crisis for many years. The country has suffered from low growth rates, high levels of debt, inflation, low productivity, and poor competitiveness, which has led to widespread poverty and slow development.
