Need for proper growth plan, sensible decisions underlined
Forcing CEO of leading group to fly country sent wrong signals
Islamabad: [April 17]
The Pakistan Economy Watch (PEW) on Sunday said government seems too much busy in averting political and financial hardships leaving it with little room to formulate a comprehensive strategy for sustainable economic development.
Efforts to widen tax net to raise funds will only burden masses as political considerations is barring policymakers to touch favourite sectors enjoying unjustified exemptions.
In a bid to regulate economy the officials are making tax system increasingly complex and more inefficient, said Dr. Murtaza Mughal, President Pakistan Economy Watch (PEW).
Borrowings and deficits are crossing limits, prices of essentials are unsustainable, business investments are inadequate while the increasing share of financial sector is inflicting great damage on critical sectors, he said.
Absence of enabling environment and lack of incentives, underinvestment in education, health and infrastructure, increasing number of government created obstacles and corruption are also matters of great concern, he added.
He said that actions against HEC are contrary to the claims of producing an educated, flexible workforce. This decision came at a time when two provinces have failed to meet requirements for teachers.
Forcing CEO of a leading Group of Karachi to leave country at a time when he was about to become honorary consul general of two Scandinavian countries have sent wrong signal to local and well as international community, said Dr. Mughal.
Such actions are hard to justify by those who find themselves optimistic about the abilities of the ruling coalition, he said.
Generations of ineffective politicians have pushed illogical policymaking turning things from bad to worst, he said adding that the complex process of economic growth requires a little more than encouraging statements.
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Dr. Murtaza Mughal
Cell: 0321-5157671
President Pakistan Economy Watch
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