OUR CORRESPONDENT
ISLAMABAD: The demand of United Business Group (UBG) Patron Chief SM Tanveer to reduce electricity prices and interest rates is not only the voice of the business community but also the heart-felt demand of the entire Pakistani nation.
This was stated by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Former Vice President Zahid Iqbal Chaudhry.
Zahid Iqbal Chaudhry, the former vice president of the while talking to the media representatives said that the leader of the business community, SM Tanveer, has demanded from the government after the successful negotiations with the IMF that the State Bank of Pakistan should reduce the interest rate by 300 basis points to ensure the revival of closed industrial units and provide employment.
While solving the problems of IPPs, reduce the electricity prices to Rs 25 per unit so that export products Bring down prices and make them competitive at regional level, he added.
Chaudhry said the demands of SM Tanveer are not only the voice of the heart of the apex body of the business community, FPCCI, Chambers of Commerce and Industry and trade bodies across the country, but also the demand of the entire Pakistani nation.
Chaudhry emphasized that Pakistan needs to revive business activities and not to get more loans. He also criticized the governments for taking loans to cover expenses instead of developing the country.
He pointed out that 58 percent of Pakistan’s tax revenue goes to debt and interest payments, reflecting the debt trap of the country.
He said that this burden of debts falls on the people and the business community as well, due to which the whole country is suffering from the worst economic crisis.
Zahid Iqbal Chaudhry stressed that the government should focus on strengthening the economy by providing a conducive business environment and facilities, not on accumulating more debt. By removing these concerns and implementing sustainable economic policies, Pakistan can be freed from the trap of debt, he concluded.
