Sincere efforts needed to revive faltering economy

LAHORE - Trade leaders and businessmen Wednesday said the government should devise long-term policies, improve law and order situation, overcome energy shortage, cut down mark-up rate and provide incentives to the industrial sector in order to put the economy on the right track.

They also urged the present leadership to construct new dams in the country to overcome energy shortage and to fulfil the water requirement of the agriculture sector. They further said economy could not flourish without better law and order situation therefore Pakistan should be made a peaceful country rather than a war-zone.

Trade leaders and candidates of PIAF-Founders Alliance contesting the upcoming elections of Lahore Chambers of Commerce and Industry (LCCI) to be held on November 18, 2008 expressed these views while addressing The Nation Forum here on Wednesday.

Former president of LCCI and veteran trade leader Iftikhar Ali Malik said three things including land, human resource and water could save Pakistan’s economy.

He said the government should take concrete steps to ensure the access of the local traders to the world markets to enhance the exports and to create employment opportunities.

Iftikhar Ali Malik, who is also the Vice President of SAARC Chambers of Commerce and Industry, said the government should focus on agro-based yield, mill and live stock farming. He said the country’s economy was passing through very tough stage at present and there was a need to tighten the belts, as this was very important period for our economy.

Due to playing frontline role in war against terror, he said, Pakistan was facing severe problems including law and order, water and energy shortage, political instability and inflation.

He also claimed the PIAF-Founders Alliance was going to clean sweep the forthcoming elections of the Lahore Chambers of Commerce and Industry. He also hoped the LCCI members after winning the elections would give 10-years vision to the government to improve the economy.