Economy coming out of ICU

Islamabad, August 04, 2022 (PPI-OT):Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Thursday said the devastated economy of Pakistan is coming out of the ICU. The political environment and limping economy is improving after a long which is a good sign for the country. Shahid Rasheed Butt said that the economic diplomacy of the Army Chief is admirable which has helped to improve the disappointing situation.

In the next few weeks, talks between the government and the opposition may begin, which will make the public and business community take a sigh of relief. The business community has estimated that now the efforts to stabilize economy are succeeding which is evident from the retreat of dollar.

IMF has announced that Pakistan had delivered on all the prior actions to qualify for the revival of a stalled bailout from the IMF. The positive signals emanating from Washington DC has also improved the situation while the trade numbers are also encouraging indicating that the measures to dampen imports are working.

However, he said, situation needs to be improved through reforms to provide more relief to the public and the business community. He said that the government should not have compromised in collecting tax from the traders but it was done which is regrettable. Shahid Rashid Butt said that now Pakistan will also get good news from FATF which will be a relief for the economy.

For more information, contact:
Dr. Shahid Rasheed Butt
Consul General Ghana
Former President ICCI
Former Patron ICST
Tel: +92-333-5132199, +92-51-2822571