KARACHI: Arif Habib, the leading investor in the country, has given the formula of providing full support to the politicians to keep them on the right track through the “hybrid model” of governance.
Arif Habib, Pakistan’s prominent investor and chairman of the Arif Habib Group of Companies, has said that the military establishment should not remain neutral in economic matters, every incoming government has done so to get electoral support from the outgoing government. Financial losses are incurred due to additional expenses.
Addressing a seminar organized by Habib Public School Alumni Association (HPSAA), Arif Habib said that the hybrid model is practical. Leaders of friendly countries (instead of elected leaders) meet with the army chief, and although the model is unpopular, it works.
Launching a Special Investment Facilitation Council (SIFC) with the support of the military to attract investment from Gulf countries.
Arif Habib emphasized that mining, agriculture, information technology (IT), and construction sectors can be game changers for the country’s economy through revenue exchange. He proposed that the country should have a negative interest rate, i.e. the benchmark interest rate should be lower than the inflation rate, which would save up to Rs 2.5 trillion annually to facilitate access to loans.
