Islamabad
Acting President, Islamabad Chamber of Commerce & Industry (ICCI), Fatma Azim has said that the economic reforms process of the government was quite slow due to which recovery of business and economic activities was not picking up momentum up to desired level and stressed that the government should put the reforms process in fast gear to create a conducive environment for better growth of business activities.
She said the Prime Minister has already announced that the new year will be the year of economic growth for Pakistan and added that this goal could only be achieved by putting the reforms process in top gear.
The Acting President said this while talking to a delegation of local industrialists that called on her led by Mian Akram Farid, Chairman Founder Group, Islamabad Chamber of Commerce & Industry and discussed with her the key issues of the economy. Tariq Sadiq, Mian Shaukat Masud, Ch. Waheed ud Din, Nasir Qureshi and Aslam Khokhar were in the delegation. Abdul Rehman Khan, Vice President ICCI was also present at the occasion.
Fatma Azim said that one of the better options for the government to accelerate the pace of business and industrial activities is to bring down the policy interest rate to at least 3 percent level, which would make significant reduction in credit cost for the private sector and give a boost to business and investment activities in the country. She said that the businesses were still struggling to combat the impact of Covid-19 pandemic and in these tough times, reducing policy interest rate to 3 percent would provide them great relief.
She said that PM had announced an attractive package for the construction industry due to which the construction activities were now flourishing in the country as many big construction projects have been launched recently.
