IMF Prescription Failed To Improve Struggling Economy

IMF prescription failed to improve struggling economy

The unending power struggle among the economic managers serving on important assignments is reflecting badly on the overall situation and it is adding to the worries of the business community, a business leader said Friday

Islamabad (UrduPoint / Pakistan Point News / Online - 14th February, 2020) The unending power struggle among the economic managers serving on important assignments is reflecting badly on the overall situation and it is adding to the worries of the business community, a business leader said Friday.People with a clear and wider vision and the ability to resolve the pressing economic challenges without engaging in time-wasting activities should be assigned important tasks, he said.The FBR will see forth chief in eighteen months but he may not be able to deliver in absence of a clear policy, said Shahid Rasheed Butt former President ICCI.

He said that inflation, unemployment and contracting economy have become major concerns while the IMF's prescriptions have failed to resolve problems.Shahid Rasheed Butt noted that people Pakistan lacks a tendency for savings that is imperative for national development.

Now the economic hardships have made it impractical, therefore, foreign investment should be encouraged.

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