LAHORE - Governor Punjab Ch Muhammad Sarwar on Monday predicted economic revival very soon, terming a sharp decline of $17 billion in current account deficit a big achievement of the government.

He was talking to the delegation of Lahore Chamber of Commerce and Industry (LCCI) led by the President Mian Tariq Misbah. LCCI Senior Vice President Nasir Hameed Khan and Vice President Tahir Manzoor Chaudhry, LCCI Executive Committee members and a good number of businessmen were also present on the occasion. Governor Punjab said that when Pakistan Tehreek-e-Insaf (PTI) came into power the current account deficit was as high as 20 billion dollars which had now been reduced to dollar 3 billion.

He said that Financial Action Task Force (FATF) issue which this government had dealt with very wisely.

Sarwar said that COVID-19 had even shocked the most powerful economies of the world, adding that the incumbent government, under the leadership of Prime Minister Imran Khan had managed it very early.

He said that the construction policy by the government had proved to be very helpful as the sector and the related sectors with construction industry were going up, adding that the interest rates were very low which were contributing in the economic growth of the country.

Speaking about the inflation and high prices, he said,”I am sure that government would deal with this issues as quickly as possible.”

He emphasized on the need of research in agriculture. He said the investment in research was the key to increase production and crop quality.

 

Sarwar said that business community was the backbone of the country, adding no country could develop without facilitating business community.

Sarwar said that the water rates difference in Lahore and other cities must be justified, “I have already talked with Water and Sanitation Agency (WASA) officials and instructed them to rationalize the water rates among the cities of the province.”

On the occasion, LCCI President Mian Tariq Misbah said that there was a dire need of new parking plazas in Lahore due to the growing needs of the city.

Mian Tariq Misbah said that the encroachments had plagued the commercial areas of Lahore.

These areas should be made free of encroachments as it was in some way adding to the cost of doing business.