ISLAMABAD – Pakistan must continue its effort to mobilise resources and maintain financial discipline with the federal finance team introducing home grown solutions to overcome the fiscal deficit.
Islamabad Chamber of Commerce and industry (ICCI) President Mahfooz Elahi made these remarks in a meeting with members of Taxation Sub-Committee of ICCI. The president was of the view that every political party in the present democratic set up should work jointly for improving the country’s economy by presenting a Bill for maintaining financial discipline and to regain macroeconomic stability.
If Pakistan maintains financial discipline, it could reap the benefits of economic growth, investment, exchange rate stability and foreign exchange reserves, Elahi opined. He stressed that financial discipline was essential for preventing the debt crisis.
Pakistan should pursue a sound fiscal policy and maintain financial discipline through enactment of a law that could help in reducing the current account deficit, the ICCI President pointed out.
