Seminar organized by FPCCI’s Central Standing Committee on Insurance

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Economic development through construction wishful thinking: Dr Waqar Masood
Wheat crisis engulfing entire country due to mismanagement: Mian Zahid Hussain
Govt lack experts who can take timely, correct decisions: Dr. Murtaza Mughal

Economic experts and business leaders on Friday lauded the PM Imran Khan’s move to develop the construction sector but cautioned that focus on only one sector will not revive economic activities.

They said all the important sectors deserve attention but the government lacks economic experts who can take timely and correct decisions based on ground realities.

Speaking at a seminar organized by FPCCI Central Standing Committee on Insurance, former federal secretary finance Dr. Waqar Masood Khan, former provincial minister, and convenor FPCCI Mian Zahid Hussain, Convenor of the FPCCI committee Dr. Murtaza Mughal, Chartered Accountant Tariq Hussain and others said that the economy is without direction which is hitting almost every sector.

They said that the government has disappointed masses while instability, inflation, and anxiety is increasing in the masses.

The government seems more interested in bashing the former rulers and less inclined to provide relief to the masses, they added.

The participants said that mafia has taken economy and masses as a hostage, the government promise to reduce prices but there is nothing on the ground and nothing has been done to deter the profiteers.

The growth rate during 2017-18 was 5.8 percent but the consumption of petrol was less than what was consumed during the last month amid negative growth rate but the issue in which billions were plundered was hushed up.

Similarly, the consumption of cement has also raised many eyebrows but to no avail which indicate collusion in mafia and authorities.

The speakers said that the wheat crisis has surfaced again and it is engulfing the whole country for which the mafia as well as the inefficiency and mismanagement of the rulers are to be blamed.

Coronavirus has not damaged Pakistan as it did in the developed countries which is a blessing otherwise the situation would have been different, they said, adding that the threat of another wave of locust seems not enough to unite federal and provincial governments for a coordinated response.

Dr. Murtaza Mughal who chaired the seminar said that coronavirus has brought to limelight the need for health insurance which should be made mandatory by the government.

He said that almost eight percent of the vehicles in Pakistan are not insured therefore vehicle insurance should also be mandatory which will benefit masses, and stabilize the insurance industry.

Other participants included Makhdoom Taseer, Qazi Asif Sayeed, Muhamad Arif, Sadruddin, and Mr. Ishtiaq.

In: Pakistan Economy WatchAuthor: pakistaneconomywatch