Prime Minister Invites Economic Gurus
On Tuesday, Prime Minister Shehbaz Sharif invited all key stakeholders to put their heads together to bring up a long-term plan to revive the ailing economy of the country. “We want this huddle to succeed so that no future government should compromise on important national issues,” he said.
Charter of Economy
“Let us begin with signing a ‘Charter of Economy’ for economic stability and progress and seal it so that whosoever will come to power cannot change basic goals,” the PM told a day-long pre-budget business conference. He stressed that the country’s economy needed to be streamlined with political stability.
“If there will be no political stability, there will be no economic stability,” he apprised the conference attended by top agriculturists, industrialists, and economists, who gave suggestions to navigate the country out of an unprecedented economic crisis.
The premier promised that the suggestions floated at the conference would be pondered and separate plans would be made for industrial, agricultural, and financial growth.
He said it is about time the elite class had to make sacrifices and assets like real estate would have to be taxed. “Until now, hard times have been witnessed by the poor but today it is the turn of well-off people to take the burden,” he said.
Taxation on Real Estate Sector
The PM also suggested that the real estate sector had to be taxed and vertical housing needed to be encouraged to save as much land as possible.
“Bold decisions are the need of the hour and imperative for the country’s bright future,” he said, noting that building large dams was one such decision.
The premier asked industrialists to go for renewable energy options and capitalize on the country’s reserves of coal for power generation.
“The current administration wants to keep cordial relations with all friendly countries,” Sharif said.