Former Senior Vice Chairman of Federation of Pakistan Chambers of Commerce & Industry – FPCCI and Chairman of Tawab Group Khalid Tawab while congratulated on appointment of Federal Finance Minister of Pakistan Mr. Shaukat Tarin for assuming the portfolio of Federal Finance Minister of Pakistan and hoped will restore the confidence of the business community. He said that Finance Minister Shaukat Tarin is the best economist and he has a keen eye on Pakistan’s economic situation. Finance Minister Shaukat Tarin’s states that demand for increase in electricity tariff by the IMF are unjustified. This is the first time that a Finance Minister has openly stated his position on the instructions of the IMF.
Khalid Tawab, former senior vice chairman of the FPCCI and chairman of the Tawab Group, added that Pakistan’s economy was slowing down due to the external debt burden, while the Coronavirus had made up for the shortfall. He said that Pakistan needs to revise its economic policies keeping in view the basic problems of the country and it needs to be further improved so that Pakistan can move forward on the path of development.
He said that the cost of production in Pakistan is higher than that of neighboring countries. There is a lot of competition due to which the investor is facing stiff competition. If the production cost is reduced then the eyes of the world will be on the Pakistani market and may be included in the list of developed countries.
He further added that the business community is also worried about the resurgence of the Coronavirus massacre and the lockdown is nothing less than a wake-up call for the economy. It is up to the Pakistani people to be careful and safe because irresponsibility will not only cost lives but will also have a negative impact on the economy.
