Islamabad, April 19, 2022 (PPI-OT):Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Tuesday said Prime Minister Shahbaz Sharif is concerned about the economy and wants to revive it as soon as possible. Masses, as well as the business community, have full faith in the abilities of the Prime Minister and they are expecting an economic turnaround.

Shahid Rasheed Butt said that the new government should focus on increasing exports, solve the problems of the export sector, provide cheap energy, fix electricity and gas tariffs, and pay the stuck refunds. He said that system of refunds should be made fully automated to relieve exporters of the capital shortage.

There is a shortage of containers which is making export difficult and costly while the industrial sector is getting half of the required gas which has increased the business cost and is affecting the competition in the international market, he said. The business leader noted that currency should be stabilised so that investors could take long-term decisions which are necessary for the economic revival.

Mr. Butt noted that the PTI government left foreign exchange enough to cover imports for two months, current account deficit of Rs20 billion and 13 percent inflation is also on the credit of former government. Government is spending Rs60 billion monthly on petrol subsidy while Rs75 billion are being added to the circular debt.

The political party which destroyed the economy was now spreading anarchy. An important goal of failed politicians is to avoid corruption cases for which society and important institutions are being harmed. Some former high-ranking officials linked to former cabal are also trying their best to pave the way for political confrontation in the country as they have already damaged economy, politics, internal harmony and foreign relations. If this wave of fascism in the country is not stopped, both the economy and the society will suffer, he warned.

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