Qatar Must Tackle 'culture Of Consumption', Says Emir
Fahad Shabbir (@FahadShabbir) Published November 01, 2016 | 05:50 PM
DOHA, Nov 1 (APP - UrduPoint / Pakistan Point News - 01st Nov, 2016 ) : Qatar's emir said Tuesday that the super-rich Gulf state must tackle its "culture of consumption" as it deals with the sharp decline in world energy prices.
In a speech to mark the opening session of Qatar's Advisory Council, Sheikh Tamim bin Hamad Al-Thani also called for the elimination of "extravagance and waste" as the emirate faces its first budget deficit in 15 years.
Sheikh Tamim said that Qatar would complete all infrastructure projects connected with the 2022 football World Cup but would strive for greater efficiency in government spending in a new five-year plan to be launched next year.
This new approach would incorporate the development of a "culture of planning, work and achievement", as well as cultural changes, especially aimed at the country's young. "There are challenges that we should tackle, which are related to the goals and values of young people and the impact of the culture of consumption on these goals and values," the official Qatar news Agency quoted the emir as saying.
"Without that we cannot move forward -- wealth alone is not sufficient." The emir's comments echo an address he gave last year in which he told Qataris the government could no longer provide "for everything" and urged the young to pursue different career paths.
Revenues from oil and gas have transformed Qatar into one of the world's richest countries, but income has been hit by the fall in global prices. The government projects a budget deficit of more than $12 billion for 2016 with further deficits likely to follow in 2017 and 2018.
In response, the government is set to introduce a value-added tax. The emir said the speed of the fall in world prices had taken everyone by surprise. "Frankly speaking, although we had anticipated that high energy prices would not remain indefinitely... no one expected this fast decline in energy prices," he said.
Related Topics
Recent Stories
PTI backed SIC nominates Hamid Raza for role of PAC chairman
PM vows to work for country along with students
US ambassador meets Senate Chairman, discusses bilateral ties
UHS to issue MBBS degrees within three months after final result
Aiman Khan granted UAE Golden Visa
PSX achieves significant milestone, surpasses 72,000 mark
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
More Stories From World
-
Thousands in heatwave-hit Bangladesh pray for rain
20 minutes ago -
EU urges probe into reported mass graves at Gaza hospitals
30 minutes ago -
Gucci owner Kering's shares sink after profit warning
30 minutes ago -
Extreme heat scorches Southeast Asia, bringing school closures and warnings
40 minutes ago -
Ambassador Hashmi greets China on Space Day
50 minutes ago -
Mass cancellations loom despite French air union calling off strike
1 hour ago
-
Record-breaking London stocks spearhead global rally
1 hour ago -
'City Hunter' manga hero drops the sexism for new live-action film
1 hour ago -
Russian deputy defence minister held over bribery accusations
1 hour ago -
Danger warning issued for Bangkok as extreme heat bites
2 hours ago -
Iran cuts Syria presence after strikes blamed on Israel: monitor
2 hours ago -
Four injured as escaped army horses bolt through central London
2 hours ago