ISLAMABAD - Showing dissatisfaction over current economic policies, the business community on Monday demanded of the government to revisit its policies that could enhance the country’s economic growth.

Addressing a gathering of businessmen, President Islamabad Chamber of Commerce and Industry Yassar Sakhi Butt said that our country has been observing many ups and downs since its independence and could not move in the trajectory of economic growth so far. He further said that we never had any concrete strategy with a clear vision which could take us to the roads towards progress and prosperity, solving core issues and bring economic revival. He said that China, India, Sri Lanka, Bangladesh and other countries of the region have made tremendous progress adopting good governance principle that have given boost to industrial as well as agricultural and many other allied sectors.

On contrary, economy of our country was going down by the passage of every day that calls for urgent and decisive actions by the Government, he added.

ICCI President said that apart from energy crisis, many other problems like rising fiscal deficit, surging inflation, dwindling production, declining investment, unemployment and low growth have become hallmark of our economy. Combined and sincere efforts are needed from the Government and all the relevant stakeholders to mitigate their adverse impact and to turn around the economy, he maintained.

He was of the view that Pakistan is also facing multiple internal and external challenges because of inconsistent economic policies. Economic stability can only be achieved by practicing continuity of consistent economic policies, he opinioned.

Yassar Sakhi Butt said that for the robust economic development of the country, industrial growth attaches great significance, but in Pakistan industrial activity has been slowing down, even the number of sick industries was on rise due to shortage of energy and non-exploitation of available alternate sources of energy and poor polices of the Government. ICCI President said that there was a dire need to devise a national energy strategy for achieving an adequate level of economic efficiency and productivity.