Islamabad:Former President of ICCI Shahid Rasheed Butt on Thursday said Finance Minister Shaukat Tarin is correcting the economic direction of the country which is going down very well with the masses and business community.

The bold stance of the finance minister on harsh IMF conditions and decision to increase developmental spending while not increasing the power tariff and taxes has helped masses take a sigh of relief and hope about early economic recovery, he said.

The decisions of Tarin to abandon contraction policies and trigger growth will not only accelerate recovery but also provide jobs to the people, he added.

Shahid Rasheed Butt said that the finance minister has decided to increase the government’s income and reduce debt through increased growth rate rather than burdening masses is the right choice.

He noted that almost all the countries are encouraging economic growth but IMF is strangulating Pakistan’s economy through harsh conditions, which is fanning poverty, but now the situation will improve.

He called upon the IMF to change its priorities and let go of the outdated conditionalities of sale of assets, deregulation of markets, and austerity in social services and developmental spending which has added to the miseries of the masses in the borrowing countries.

The business leader noted that some sectors of the economy are performing well despite pandemic but speedy recovery will need a package that should not be delayed.

The results of sixteen by-polls since 2019 shows that the electorate is not very happy with the economic policies of the government and Shaukat Tarin is the best option to bring a positive change in the situation.