Pakistan’s Prime Minister Shehbaz Sharif on Tuesday said the South Asian nation needed a “charter of the Economy” for the continuation of growth-oriented economic policies, hinting at taxing non-productive real estate assets lying vacant for speculative purposes.
Addressing the Pre-Budget Business Conference in Islamabad on Tuesday night, the prime minister said the enhancement of exports and agricultural yield, and financial management should be the major components of the plan.
The prime minister said political stability was a must for economic stability in the country, faced with a widening current account deficit, currency depreciation, and double-digit inflation.
The Prime Minister said the government will form a task force on agriculture and exports for formulating comprehensive plans in this regard.
He said Pakistan’s agricultural sector has immense potential to boost the economy and the progress of rural areas is the need of the hour for a prosperous Pakistan as 65% population lives in villages.
The Prime Minister said the government has set a target of 15 billion dollars of export in the IT sector.
“All of us will have to move together. The Prime Minister said the government will keep seeking guidance from the business community in devising the economic strategy. The government will form a task force on agriculture and exports for formulating comprehensive plans. Owing to the limited time, the government is focusing on short- and medium-term plans,” he added.
He emphasized the need of establishing Special Industrial zones, the adoption of renewable energy, and reduction in non-developmental expenditures.
On the foreign front, Shehbaz Sharif said the previous government damaged relations with friendly countries, but the incumbent government is taking practical steps to restore the relations.
The conference gathered agriculturists, information technology experts, businessmen, investors, and agriculturalists from across the country, who shared their proposals with the government relating to their respective areas.