Sunday, July 17, 2011

Structural reforms needed to avoid economic disaster

ISLAMABAD (NNI) – The economy of the Pakistan is going down by the passage of every day which calls for urgent and decisive actions by the government, the Pakistan Economy Watch (PEW) said on Sunday
Incompetent leadership and policies without logical or meaningful connection have made the country’s economy weak while preserving credibility has become a big challenge for the government, it said.
Doubts, uncertainty, panic and pain have become part of the life for commoners as well as business community, Dr. Murtaza Mughal, PEW president said in a statement here.
Loss of confidence is a very serious issue taken lightly by the politicians while the experience shows that it is impossible for a country to regain the confidence of the market once lost.
To avoid such an outcome, the leaders must act boldly and swiftly through parliament to boost anaemic growth rate, he added.

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