Industrialist Arif Habib expressed his full support for the hybrid system of governance to keep politicians on the right track . Speaking at a seminar organised by the Habib Public School Alumni Association HPSAA the chairman of one of the largest Pakistani conglomerates with substantial stakes in over a dozen sectors of the economy said the military establishment shouldnt stay neutral when it comes to economic matters .
He said the foreign exchange inflow to mining agriculture information technology IT and construction can be a game changer for the economy . The country should have a negative interest rate meaning the benchmark interest rate being lower than the rate of inflation in order to save up to Rs.
trillion a year in terms of debt servicing he said. The excess cash should then be used for targeted subsidies he said . Speaking on the occasion Topline Securities CEO Mohammed Sohail blamed social media for portraying a bad economic situation in an even worse light on the situation in a worse light.
He said Pakistan has lost its competitive advantage against regional players because of high tax rates rising utility prices and a steep cost of funds and a shortage of funds . He referred to recent developments like an improved credit rating stock market rally uptick in the business confidence index as reasons to be optimistic about the economic future.
He also referred to an improvement in the economic outlook for the financial sector as well as the improvement in an improvement on the economy. He cited the improvement of the financial stability of the market as a result of an improved financial performance of the country.
He blamed the improvement on an improvement of financial stability in the market. He called for an improvement by the improvement by an improvement. However, he said the improvement.
