Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Chaudhry Muhammad Saeed has stressed the need for consistent economic policies, political stability and improved law and order for the continuous economic growth of the country. According to a press release, the FPCCI President was replying to a question by senior representative of International Monetary Fund (IMF) in Pakistan Henry Lori about his assessment of the economic situation in Pakistan during a meeting held at FPCCI House here.

Chaudhry Saeed said that the private sector had to be geared up with view to providing it a chance to play its due role in the economic development of the country.

He said that although the poverty alleviation programme of IMF had come to an end, about 40 percent of the country's population were still living below poverty line.

Since the government alone could not provide jobs to all the jobless, the private sector, therefore, must be encouraged to banish poverty from the country, he added.

Chaudhry Saeed said that although the government had archived its tax targets this year, the tax base had to be further increased and the tax rate should be reduced as well as non-development expenditure should be curtailed to sustain the economic growth.

Copyright Business Recorder, 2005