KARACHI - Good governance and welfare state approach is necessary for attaining economic stability, said speakers of a moot here Friday.According to details, by sustainable development policy institute with partnership of Centre for International Private Enterprise (CIPE) held a roundtable meeting attended by representatives from different mainstream political parties and business communities.The speakers said the federal and provincial tax regime needs to be simplified and other number of taxes on SMEs may be reduced in order to make it easy for the SMEs to graduate towards larger corporations. There is a need for tax reforms which may result in lesser tax authorities optimizing the cost of doing business.PTI Dr Arif Alvi enforced the charter of economy and added that there should be a grass-root level ownership of the economic agenda. He raised the need to make the voters aware regarding their social issues. He also exerted the importance of nutrition of children, water scarcity and education.PPP-P Dr Shahida Rehmani focused on the issues faced by the marginalized communities of Pakistan especially farmers and women. She also stressed on the need to give agriculture the status of industry and include incentivized value addition infrastructure at the agricultural land. She also highlighted the issue of urbanization and declining foreign direct investments in the country.PML-Functional Mehtab Akbar Rashidi describes the issues of tax compliance, women and youth inclusiveness. She also stressed on the need for manifesto based evaluation of the governmental performance based on the manifestos presented.JI Muhammad Hussain Mehanti said that the focus on the need for an Islamic economic system and he also emphasized that economic stability and sustainability can be achieved only through ensuring good governance practices and curbing corruption at all levels. He also focused on reduction in income-expenditure gap.Dr Vaqar Ahmed, Joint Executive Director, SDPI highlighted that the cost of energy needs to be rationalized either through establishment of efficient energy infrastructure which may result in reduction of relevant surcharges and other levies.Other prominent speakers from business community at the meeting also spoke on the occasion and elaborated the mega economic schemes especially CPEC.