Shabbar Zaidi, the former chairman of the Federal Board of Revenue (FBR), told The News that stronger economic management, local government empowerment, debt restructuring, and strong partnerships with the United States and the European Union are vital aspects in rebuilding Pakistan’s economy.
Zaidi’s comments followed Prime Minister Imran Khan’s public pronouncements in which he chastised the EU for pressuring Pakistan to denounce Russia’s invasion of Ukraine.
The comment was made at a conference on Saturday co-hosted by the Institute of Business Management (IoBM) and the Pakistan Council on Foreign Relations (PCFR) titled “State of Pakistan’s Economy: Present and Future.”
Zaidi gave an outline of the country’s economy from 1947 to 2022 while speaking at the conference, and addressed strategies to enhance the economy.
Meanwhile, famous economist Dr. Kaiser Bengali has advocated for Pakistan to focus on domestic power generation and prohibit all non-consumer imports.
He believed that with the right policies in place, the poverty rate could be reduced to a single digit within a decade.
Furthermore, PCFR Chairman Shahid Amin stated that Pakistan must identify areas where it falls short, clarify economic difficulties, and handle each one fairly.
Veteran diplomats and former ambassadors, as well as the IoBM’s management, staff, and students, attended the session.
IoBM President Talib Karim remarked in his welcoming address that Pakistan’s economic uncertainty was a major concern for the country.
