Political stability ensures sustained economic growth: Meher

LAHORE (APP): Political stability is pre-requisite for sound economy that promises greater weal for the people, and Pakistan needs a continued stable democracy for sustained economic growth to cope with multiple challenges.

State Minister and Federal Tax Ombudsmen’s (FTO) Coordinator Meher Kashif Younis, while talking to a delegation of traders led by Faran Shahid here on Sunday.

At this crucial juncture of its history, Pakistan cannot endure political turmoil and instability, he said, adding that politics of confrontation and violence has never been a solution to any problem.

Meher argued that time has changed, now the influential nations are paying more attention towards financial warfare to maintain their dominance.

“These countries are successfully using their techniques of economic destruction to weaken the poor nations to achieve their unholy designs while Pakistan’s economy is not strong enough to withstand economic terrorism,” he observed.

The Coordinator said, it is indeed important to increase exports for which Pakistan needs to reduce the cost of doing business to make its products competitive in world market.

He was of the view that trade facilitation is the key to promote industries and ‘we have to remove all the bottle necks and create the culture of trade facilitation. He also called for consistency in the government policies and a clear economic roadmap to move upon.

He suggested that all industrial and all other relevant sector should play their due role in strengthening the economy while the government should introduce reforms and control the smuggling of raw material and finished goods.