Great Debate: FBR chief, economists urge ‘cautious approach’ to achieve economic growth
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Panellists engage in a candid conversation on economic challenges, tax policies, and public relief at Geo News show Great Debate hosted by Shahzeb Khanzada. — Screengrab via YouTube/GeoNews
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Experts, in a special debate on Geo News, emphasized the need for a “cautious and measured approach” to achieve economic growth, which called for structural tax reforms and sustainable policies.
The panel, which consists of prominent economists, business tycoons, analysts, and industry leaders, broke many challenges and proposed extensive strategies to move towards economic growth.
Pakistan, which is currently powered by the International Monetary Fund (IMF) Billion 7 Billion Extension Fund Facility (EFF), currently acquired in September 2024, is on a difficult path for rehabilitation.
The South Asian nation easily avoided the default of a sovereign loan, in which the reserves are not enough to meet the one -month -long controlled imports in 2023.
In the first quarter of the financial year, its economy has increased by 0.92 %. Pakistan wants to get tax by speeding up the pushing of privatization, but efforts to outsource the national flag career, Pakistan International Airlines, and Capital Airport have been flat.
In this context, Geo News organized a program “Last Mouka” with respected experts and government officials in the title “Car for Pakistan”.
The prominent participants in the debate include Arif Habib Group Chairman Arif Habib, Lucky Cement CEO Mohammad Ali Tabba, Topline Securities CEO Mohammad Sohail and Pakistan Business Council CEO Ehsan Malik.
Addressing today’s special transmission, Rashid Mehmood, chairman of the Federal Bureau of Revenue (FBR), emphasized that the government should move towards “cautious and slowly” economic growth.
He said, “If the pressure of development is not properly caledical, it will deteriorate … There is such a understanding between society and decision makers that we have to move towards cautiously.”
Langrial noted that despite the achievement of stability, the country cannot afford to grow rapidly. “When we maintain stability for two to three years, the country feels pressure because domestic revenue is affected,” he added.
He said that from 2025 to February 2026 next year, the decision -making for the country will be an important year as officials will decide whether we have to move beyond the previous route or a new “.
When asked about the difference of opinion in the government in this regard, the FBR chief said that there was no difference between moving towards economic growth, but there was speed. He added, “It is easy for the government to set the goal of development, but the consequences will affect the society.”
He also rejected the concept of not getting relief to the poor, despite a significant decline in inflation, saying, “Inflation is a ‘inflation tax’. He added,” When you taxed people. If you have stopped, you stopped diminishing their purchase power. “
Lingal noted that the country is witnessing the initial signs of development in several sectors, emphasizing, “We have to be steadfast. We have to stay on the course.”
‘Taxing structure’
Meanwhile, CEO Lucky Cement – Mohammad Ali Tabba supported the FBR chief’s “caution and slowly” statement that it moved towards economic growth, saying it should be “comprehensive and sustainable”.
“If we get a growth of 6-7 billion on the basis of imports of $ 6-7 billion, it will be harmful … we have to slow down the economy once again after six months, and its recovery. You have to value your currency. “
Referring to inflation, the trader noted that it is still higher than in previous years, emphasizing the need to evaluate the obstacles to reduce the prices of essential commodities and to increase the cheapness Has gone
“We have to promote indigenous development … we do not want imported development, nor can we afford it.”
In addition, Tabba said, there are sectors in Pakistan, which have industries, but on a very small scale, the country’s attention emphasizes the need to move towards such sectors such as shipping and aviation industries. –
He expressed regret over the “excessive tax imposing” in the establishment of the shipping industry in Pakistan and said that the government could not attract new new tax industries. “We should focus on the development of new areas, including the data centers, the IT industry, which will also increase employment and export services,” he added.
