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ICCI calls for new strategy to rid the country of debt and liabilities

Islamabad(Daily P.Times): Muhammad Naveed Malik, Senior Vice President, Islamabad Chamber of Commerce & Industry said that Pakistanís total debt and liabilities have reached Rs.29.861 trillion while external debt and liabilities have crossed $ 95 billion till June 30, 2018 indicating that every person of the nation owed debt burden of Rs.144256 which was cause of concern and called upon the PTI government to devise a new strategy to get rid of debt and liabilities as without coping with debt issue, the country could not achieve sustainable economic growth. He said that Pakistan spent a huge amount of $7.479 billion on debt serving during 2017-18 which showed that debt burden was consuming lot of financial resources of the country. He said that instead of depending on debt sources to run the affairs of the country, the new government should focus on indigenous sources and adopt austerity measures to control unnecessary expenditures. He was talking to a delegation of Traders Welfare Association, G-7/1, Islamabad that called on him led by its President Raja Safeer Ahmed. Ch. Muhammad Saleem Senior Vice President, Faizan Shehzad, M. Faheem Khan, Muhammad Ramzan and Rana Aqeel were also in the delegation.
Muhammad Naveed Malik said that G-7/1 market was one of the oldest markets of Islamabad and stressed upon the CDA and MCI to focus on better development of this important market to facilitate the traders in promoting trade activities. He urged that CDA and MCI should arrange filtration plant and public toilets in addition to repair of roads, footpaths and streetlights in G-7/1 market in order to provide a conducive business environment. He assured that ICCI would fully cooperate with TWA G-7/1, Islamabad in resolving key issues of the traders. Speaking at the occasion, Raja Safeer Ahmed,President and Ch. Muhammad Saleem, Senior Vice President, Traders Welfare Association, G-7/1, Islamabad said that due to the inattention of CDA, no development work was done in their market due to which the traders were facing difficulties in promoting trade activities. They urged that CDA and MCI should provide facilities in G-7/1 market including filtration plant, public toilet.

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