IWCCI expresses concern over rising inflation

Govt may miss inflation target for the current fiscal

Situation to improve if Govt fulfils its reform agenda

Stock market optimistic about Govt policies

Dated: August 11

Islamabad:

The Islamabad Women's Chamber of Commerce and Industry (IWCCI) on Sunday expressed concern over rising inflation and economic slowdown which is adding to the miseries of the masses.

Government should take immediate steps to contain inflation otherwise it may miss the target of keeping inflation at 8 per cent in the on-going fiscal, said Farida Rashid, President IWCCI.

In a statement issued here today, she said that high inflation will compromise Pakistan’s bargaining position with the international lenders during negotiations.

There is no chance of any improvement in the income of masses therefore rising inflation will result in more poverty, reduced savings, decreased investments as well as contracted growth rate, she added.

She warned that inflation would erode local currency while the central bank will have no option but to hike the policy rate in the first monetary policy under the new political setup.

Farida Rashid said that upward revision of interest rates will make loans costly for government as well as business community which will cast a negative shadow on economy.

It will force many businesses to become uncompetitive resulting in lost opportunities at home and abroad, colossal losses, bankruptcies, lower tax collections and unemployment, she warned.

Farida Rashid said that credit of recent wave of price hike goes to the fiscal policies of the former government while the recent steps like hike in Sales Tax and increase in prices of electricity and petroleum products is also to be blamed.

Absence of proper mechanism to check prices during the holy month of Ramadan has also contributed to the hike in prices of food items, she added.

She said that situation can improve if the PML-N government successfully fulfils its reform agenda that comprise reduction in budget deficit, attracting foreign investment, taming energy crisis and control precarious law and order situation.

All the stock markets performed well ahead of the Eid holidays which could be attributed to the confidence of portfolio investors in the government economic policies.

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Govt’s Balochistan policy encouraging terrorism

BLA accepts responsibility of attacks but case registered against unidentified people

Security forces should not be demoralised in the name of missing people

Dated: August 11

The Punjab Forum on Sunday said Balochistan policy of the government has been encouraging the terrorists and disheartening patriot elements.

It called for an end to demoralise security institutions on the pretext of missing people.

Speaking at a ceremony titled, “Blood-soaked Eid” President of the Punjab Forum Baig Raj said that government has been encouraging separatist terrorist through their flawed policies.

He said that time has come to act against terrorists through a massive and merciless military crackdown across Balochistan to protect life and property of innocent masses.

Had the government taken a firm stand against terrorists the situation would have come under control, he said.

Baig Raj said that terrorists were openly challenging government’s writ while central and provincial government continue to push for talks which has surged terrorism.

Masses has started believing that terrorist groups are less likely to be found in non‐democratic settings than in democratic ones, he said adding that the remarks by courts has demoralised the defenders of the state.

He observed that those who have made Balochistan a hell for settlers, minorities and security forces will soon commit heinous crimes in Lahore.

Murder of Punjabi labourers and police officials inside the police headquarters is ample proof of the morale, cruelty and reach of the terrorists who deserve no sympathy, he said.

The President of Punjab Forum said that BLA would accept responsibility of terrorism related incidents but FIR would be registered against unidentified people which amounts to playing with the integrity and sovereignty of the country.

Government should not allow a handful of terrorists to bring a bad name to majority of patriot Baloch people; he said adding that negotiations with terrorists are nothing but self-deception which has laid the ground for more bloodbaths.

Any delay in destroying the terror infrastructure in Balochistan will have very far-reaching negative consequences for the federation as only condemnation has remained counterproductive, he warned.

Calling for a sustained action, he said that it would be deadly for the public and country if operations against militants were not undertaken immediately to be lasted until all the terrorists are wiped out.

It is the responsibility of those who were elected by the masses to provide security to the people of Pakistan living under severe uncertainty, he said.

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