Pakistan’s economy is facing serious challenges and would not be able to move on the economic front without resolving core issues. Government needs to form a proactive Economic Advisory Committee to achieve sustainable and long-term economic growth.

Fiscal imbalances were needed to be addressed in consultation with economic managers, bankers, technocrats and business community and their recommendations should be given due significance in the formulation of country’s economic policies, Yassar Sakhi Butt, President, Islamabad Chamber of Commerce and Industry (ICCI), has made these remarks in a meeting at Chamber House.

He said that the proposed Economic Advisory Committee meetings should be held at regular intervals inviting representatives from main Chambers and trade association throughout Pakistan which would provide valuable advice to the Government on a regular basis. He said that committee could give insight on business related issues and suggest policy options to improve the economic scenario.

ICCI President said Government need to think out of box and take a proactive approach to overcome the current challenges which Pakistan has been facing. He said that Government should come out from politics and play its right cards to address economic issues and pursue a strategic economic direction aligned with its national interests.

Yassar Sakhi Butt was of the view that smaller economies of our region were turning into bigger economies but in contrary our country is on the reverse trend due to energy crises, higher fiscal deficit, poor governess and deteriorating law and other situation.

He said that the active participation and keen interest of public and private sector in the economic development would ultimately drag out our country from current economic turmoil.