Unrealistic revenue targets hitting economy.


Islamabad -- The Pakistan Economy Watch (PEW) on Saturday said production in industrial sector is being compromised for the sake of unrealistic revenue targets which is not in the national interests.

IMF conditions have resulted in negative growth in important sectors of the economy while tax measures have made life difficult for the masses and the business community, it said.

The interest rate is kept one percent above then the desire of IMF which has damaged the economy and pushed many industries in the ICU, said Dr. Murtaza Mughal, President PEW.

He said that compression of imports has saved four billion dollars but inflicted a revenue loss of Rs200 billion in five months while reduced GDP by tens of billions.

Discouraging imports has left many industries closed resulting in massive unemployment, loss of revenue and runaway inflation, he said.


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