ISLAMABAD - Finance Minister Ishaq Dar’s resolve to promote culture of savings is laudable as it is necessary to stabilise the economy, a business leader said on Sunday.

“The business community supports the decision of the finance minister and will fully cooperate in promoting the culture of savings in the country,” said Atif Ikram Sheikh, former president ICCI.

He said that the government had launched the first-ever registered Premium Prize Bond worth Rs40000, which, he added, was a laudable move as it would help country move towards the target of national savings of twenty percent announced  by the finance minister.

Sheikh said that finance minister had revived an economy which was on the verge of default few years back, and now was taking steps aimed at economic stability, which, he added, were going down very well with the business community.

“His decision to take loan from people through bonds instead of multilateral institutions is a good move which must be supported by the masses,” he asserted.

The business leader said that banks should be asked to stop giving negative return to the consumers and the number as well as efficiency of the national saving centers should be increased to make these accessible to the masses.

“The negative interest by banks and unnecessary fluctuation in the interest rates of different national saving schemes are hindering the promotion of culture of savings which should be fixed by the policymakers,” he demanded.

He noted that Pakistan’s economic progress was being acknowledged internationally and all economic indicators were showing an upward trend. “International economic experts see Pakistan amongst the top twenty economies of the world by 2030,” said Sheikh.