Economy, democracy vital for a country’s development, stability: Meher

LAHORE (APP): Minister of State and Federal Tax Ombudsman’s (FTO) Coordinator Meher Kashif Younis said on Thursday that economy and democracy were vital pillars for development and stability of a country.

Talking to a delegation of women entrepreneurs here, he said a strong economy guarantees growth, job opportunities and improved living standards while democracy ensured a representative government that upholds the rule of law, protects human rights and encourages people participation in decision-making.

Meher said that the synergy between a stable economy and a functioning democracy was vital for Pakistan’s progress and sustainable development. However, it’s important to recognise that specific challenges and priorities may evolve over time, and continued efforts are needed to strike a balance between these two pillars.

On the other hand, he said a healthy economy with opportunities for growth and prosperity could strengthen democratic institutions. He said, a robust economy could lead to improved living standards, reduced poverty, and increased access to education and healthcare.

Balancing the economy and democracy is an ongoing process that requires careful consideration, public discourse, and a commitment to uphold democratic principles while promoting sustainable economic growth, he added.

On this occasion, the delegation head Ms Maheen said that economy and democracy were closely intertwined concepts. In a democratic system, she said, the economy played a crucial role in shaping people’s lives, opportunities, and overall well-being, and the democratic governance influences economic policies and decisions, she added.