*ISLAMABAD* – Islamabad Chamber of Commerce & Industry (ICCI) Senior VicePresident Muhammad Naveed Malik said that Pakistan’s total debt andliabilities have reached Rs 29.861 trillion while external debt andliabilities have crossed $95 billion by June 30, 2018.
Every person of the nation owed a debt burden of Rs 144,256 which was acause of concern and called upon the Pakistan Tehreek-i-Insaf government todevise a new strategy to get rid of debt and liabilities as without copingwith debt issue, the country cannot achieve sustainable economic growth.
He said that Pakistan spent a huge amount of $7.479 billion on debt servingduring 2017-18 which showed that debt burden was consuming a lot offinancial resources of the country. He further said that instead ofdepending on debt sources to run the affairs of the country, the newgovernment should focus on indigenous sources and adopt austerity measuresto control unnecessary expenditures. He was talking to a delegation ofTraders Welfare Association (TWA), G-7/1, Islamabad that called on him ledby its president Raja Safeer Ahmed.
Senior vice president Chaudhry Muhammad Salim, Faizan Shahzad, M FahimKhan, Muhammad Ramzan and Rana Aqeel were also in the delegation.
Muhammad Naveed Malik said that G-7/1 market was one of the oldest marketsof Islamabad and stressed upon the Capital Development Authority (CDA) andthe Metropolitan Corporation Islamabad (MCI) to focus on better developmentof this important market to facilitate the traders in promoting tradeactivities. He urged that CDA and MCI should arrange filtration plant andpublic toilets in addition to repair of roads, footpaths and streetlightsin G-7/1 market in order to provide a conducive business environment. Heassured that ICCI would fully cooperate with TWA G-7/1, Islamabad inresolving key issues of the traders.
Speaking at the occasion, TWA President Raja Safeer Ahmed and TWA SVPMuhammad Salim said that due to the inattention of CDA, no development workwas done in their market due to which the traders were facing difficultiesin promoting trade activities. They urged that CDA and MCI should providefacilities in G-7/1 market including a filtration plant and a publictoilet. They said that CDA had agreed for a flower market in G-7 Sector,but no measures were taken so far for its setup. They urged that the civicbody should develop a flower market in G-7 to meet the needs of people,adding that due to absence of rent control act in Islamabad, rent disputesof traders were on the rise and emphasised that new government shouldarrange early passage of amended bill of rent control act from theparliament so that this longstanding issue of the traders could be resolvedonce for all.
Faizan Shahzad, M Fahim Khan, Muhammad Ramzan and Rana Aqeel also spoke atthe occasion and called upon CDA and MCI to focus on development works inG-7/1 Market for the facilitation of traders.