The country’s economy is deteriorating day by day due to incompetent economic team and bad governance for which some unpopular decisions on political front is needed in the larger national interest. While talking to Online on Saturday, the president Pakistan Economy Watch Dr Murtaza Mughal said that incompetent economic team and bad governance have brought the country’s nascent economy on verge of destruction for which political leadership is needed to be taken some unpopular decision so that some improvements could be brought in ailing economy of the country. He said that unpopular reforms will take time to produce results but will restore the market’s confidence which is diminishing due to impression that rulers are willing to risk everything to prolong rule and protect personal wealth. “Doubts, uncertainty, panic and pain has become part of the life for commoners as well as business community,” said Dr. Mughal, adding that 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 faith of market once lost and our leaders must act boldly and swiftly through parliament to boost lackluster growth rate. He said that economic team has failed so far to bring ailing economy on track because of their incompetence and lack of decision making powers, coordination and consistency in economic policies. President Economy Watch said that this was the right time for taking some tough decisions from political side so that the present government will be able to face the masses boldly in upcoming elections.
