2020 - Year of indigenous production and financing.

Byline: Raziuddin (Razi)

Every year the new year resolutions are being made, only to be broken especially weight loss, diet control. As a nation we need to make long lasting and out of box resolutions for the coming year but vow not to lose sight of the achievements we need to make for this beautiful country. No point crying over the state of the economy. Spilled milk is gone. Let's have new resolutions to make the country it was meant to be; a welfare state. The year is 2020; an opportunity to have 20-20 vision. Let 2020 be a year of resolve and not just another year. Taking matters positively is important because negative positions are never helpful.

Improvement in the quality of lives of the poor has begun. It has been too long in the shades of poverty. The government needs to take major and bold economic and financial initiatives by declaring 2020 as the year of "Indigenous Production and Financing" (the Resolution) in the fields of Oil and Gas, Hydro, Wind, Solar, Geothermal, Grains, Pulses, Vegetables, Fruits, Milk, Textile, Engineering Goods, Steel, Cement, Chemicals, Paper and Board, Jeeps, Cars, Motorcycles, Cycles, Electronics, Artificial Intelligence, IT, Biomedical, Pharma and high value added products; and Pakistan Stock Exchange (PSE) bouncing back into black. The government needs to engage with the general public, media, trade and business chambers, think tanks and academia to achieve its goals and targets.

The government needs to appeal to all walk of lives, especially the entrepreneurs to come forward to change the destiny of Pakistan by giving their full energies for Indigenous production and creation of jobs. SECP, SBP and FBR needs to make business easy; a change is indeed needed to accelerate GDP growth. The present laws, rules, SROs, CGO and practices are recipe to recede only, a resolve is needed to reduce and ease out regulations in the coming year. Portals like PM Complaint portals are needed in SECP, SBP and FBR to fast track businesses. The Banking and Corporate system is becoming difficult day by day, which needs to be reversed.

KIBOR needs to be slashed down to 2% for locally manufactured plant, equipment and machinery and down to 4% for Working Capital coupled with tax relief for the corporate sector is the need of the hour.

Drain on the economy demands fast track revival of Pakistan Steel Mills, PIA, DISCOs and other PSEs. Electricity and gas losses and pilferage are taking heavy toll on the economy. 2020...