LAHORE: Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq Friday said a $6bn IMF loan package for Pakistan will help stabilizing the crisis-battered country’s economy besides reviving of investors’ confidence and sustainable growth through structural reforms introduced by Pakistan Tehrik-e-Insaf government.
Talking to media persons, Mian Kashif said IMF bailout package is imperative for the country and aimed at providing breathing space for the incumbent government and reassuring investors in the face of growing concerns over a plunging currency and gaping fiscal deficit as well as skyrocketing inflation and pressing debt obligations.
He said the business community is confident that after following economic vision of Prime Minister Imran Khan, the economic growth will gradually increase and inflation will decline and help reinforcing financial sector resilience besides strengthening social safety nets across the country.
He further said that country faced various economic challenges in last year including decline in exports and foreign direct investment, lowest tax-to-GDP ratio and inefficiency of Public Sector Entities but these challenged can be coped through meaningful partnership and dialogues between the government and the private sector.
He said that furniture with calligraphic engraving had great demand in local and international markets, which seems to be the dominant one in Pakistan. Therefore, he stressed the need for developing regional, product specific and target oriented marketing strategy. New markets and new products need to be explored to reduce country’s dependence on few commodities and countries.
He further stated that bilateral Free Trade Agreements have been the order of the day and are being implemented by many countries around the world therefore Pakistan needs to do same.
PFC Chief further said that it was need of the hour to highlight the positive actions and policies of government instead of creating panic and chaos. He said that if uncertainty would prevail than economic revival would not be possible, which will adversely affect the commoners. The confidence of the local investors was reviving with the steps taken by the present government and they were contributing their share in the economic revival, he added.
Mian Kashif also said that media plays pivotal role in the promotion of positive investment climate in any country. He said the media should highlight the efforts made by the government for ease of doing business and investment opportunities provided by the government. He said the media reporting portray the image of any country and media should give positive image of Pakistan to the world
