Observer Report
Islamabad
Former President Islamabad Chamber of Commerce and Industry (ICCI) Shahid Rasheed Butt on Saturday said the economic situation is being exaggerated against the ground realities as it is not such good as being potrayed.
In a statement issued here, he said that a little uptick in the economy supported by unwanted subsidies should not be overstated to deceive the masses.
Shahid Rashid questioned why the government is negotiating tranche of the loan with IMF on stringent conditions if the economy is in such a good shape.
He said that IMF conditions stoke poverty by hitting economic activities which should be avoided if the economy is taking off but it is not the case.
The former ICCI President noted that the claims for economic stability are not new, such claims are repeated by every government to knock IMF door for avoiding bankruptcy within a year.
