PBC slams caretaker govt’s ‘do nothing approach’

ISLAMABAD: The Pakistan Business Council (PBC) in a statement issued on ‘X’ formerly known as Twitter has criticised the caretaker government’s ‘do nothing approach’  and advised it to ‘show some teeth’.

“Of the long list of fundamental reforms required in our economy, some such as privatization/restructuring of SOEs & DISCOS, may be beyond the Caretaker Government’s remit. However, blatant smuggling, under-invoicing, theft of electricity, misuse of the Afghan Transit Treaty, tax evasion by retail, wholesale and the undocumented real estate sectors are all against the law,” read PBC’s tweet.

Read more: No concession would be given to defaulters and power thieves

“It is well within the powers of any government (certainly the Caretaker, which has no vote bank to protect) to enforce the writ of the state. A ‘do nothing’ approach does nothing to create a positive sentiment or hope. It only accelerates in formalization of the economy. Time to show some teeth,” the tweet added further.

The comments were made just days following PBC’s cautionary statement, highlighting that the current sharp depreciation of the rupee against the US dollar represents a significant challenge for Pakistan, akin to a “perfect storm.”