KATI expresses optimism over positive economic forecasts of international institutions for Pakistan

President of Korangi Association of Trade & Industry (KATI)
Saleem-uz-Zaman termed positive forecasts of international institution regarding Pakistani economy a ray of hope in current times of crisis and urged for a well deliberated strategy for sustainable growth in economy and industry.

President KATI, Saleem-uz-Zaman said that IMF and Modis have predicted economic growth in Pakistan for next fiscal year and forecasted some hopeful prospects for economy which is a sign of hope.

However, there is a lot to be done to reform our economic ecosystem. He mentioned that flawed estimation of supply and chain of energy and essential commodities have increased hurdles in the way of proper growth, it is a pressing call of time to reform and reestablish a planning regime in the pretext. He said that on one hand encouraging rise in exports and continuation of industrial production were the great sign of hope while on other hand increasing cost of production, lack of energy availability and skyrocketing essential commodities are pulling back our developing growth pace.

He said that PM Imran Khan has taken laudable initiatives for exports growth and financial assistance to industry in the times of pandemic and these policies brought positive results in terms of stable trade balance and foreign reserves. He said that as a great believer of reforms, PM Khan should take measures to develop a national economic strategy which can address our decade’s long economic woes. He further said that especially in energy sector gas crises and its availability to industrial sector, it is still a burning issue and every year we face this crisis, we hope that his government would bring a solution to fix the issue once for all.

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