ISLAMABAD: Finance Minister Ishaq Dar’s resolve to promote culture of savings is laudable as it is necessary to stabilise the economy, a business leader said Sunday.
Business community supports the decision of the finance minister and will fully cooperate in promoting the culture of savings in the country, said Atif Ikram Sheikh, former president ICCI.
He said that the government has launched first ever registered Premium Prize Bond worth Rs 40000 which is a laudable move as it will help country move towards the target of national savings of twenty percent announced by the finance minister.
Atif Ikram Sheikh said that finance minister has revived an economy which was on the verge of default few years back and now he is taking steps aimed at economic stability which are going down very well in the business community.
His decision to take loan from people through bonds instead of multilateral institutions is a good move which must be supported by the masses.
He said that government should also launch a bond of one hundred thousand rupees and decision to register they buyer will stop the misuse of the bonds which are used to whiten the black money.
The business leader said that banks should be asked to stop giving negative return to the consumers and the number as well as efficiency of the national saving centres should be increased to make it accessible to the masses.
The negative interest by banks and unnecessary fluctuation in the interest rates of different national saving schemes are hindering promotion of culture of savings which should be fixed by the policymakers, he demanded.
Pakistan’s economic progress is being accepted internationally and all economic indicators are showing an upward trend. International economic experts see Pakistan among the top twenty economies of the world by 2030, said Sheikh.—INP
