‘Aggressive economic policy needed’

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has called for economic plans in consultation with the stakeholders to help financial managers evolve an aggressive policy to cope with the challenges, a statement said on Thursday.

LCCI President Malik Tahir Javaid said that there are economic weaknesses, which gives room to external powers to interfere in the internal matters.

Circular debt, trade deficit, discouraging exports, rupee devaluation, water shortage and miseries of agriculture sector have led to stagnant growth in Pakistan, he said, adding that the new government must have to address these issues through good economic reforms and consultation with the stakeholders.

Pakistan has all resources to become an economic giant, but setting directions with zeal, courage and sincerity is the need of the hour, Javaid said.

According to rough estimates, value of coal reserves in Pakistan is 187 times more than the GDP of Pakistan and only two percent of Pakistani coal reserves can generate 20,000MW for almost 50 years, he added.