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Experts highlight economic insecurity

"Global recession together with current fiscal policy has shaken the confidence of the business community"

Dr. Tom G. Palmer at the FNF Office
Dr. Tom G. Palmer at the FNF Office Liberals discuss the economic concerns with Palmer. Dr. Tom G. Palmer, Vice President for International Programs and General Director, Atlas Global Initiative for Free Trade, Peace, and Prosperity shared the global aspects of recession with the Pakistani economists, businessmen and academia in Islamabad during an informal meeting arranged at FNF office.

 

At this occasion the representatives of the business community expressed their concerns on the rising corruption directly proportional to the insecurity and lawlessness in the country that has shaken the confidence of the medium while the small enterprise is almost on its knees unable to pay bribes and find business. The recent budget 2009-2010 has added to the woes of not only the consumers but also the business community.

 

According to the recent reports of the Transparency International the ratio of corruption in Pakistan has risen up to 300 times in the last three years. The reasons are multiple: insecurity, global recession, lawlessness, lack of level playing field, inconsistency of the policies, undue taxes and red-tapism. It is high time that some concrete measures are taken to reduce lengthy procedures for the import- export that aiming to minimize the opportunities for the people in charge for corruption and ease out the merchandisers. In this connection Dr. Palmer shared many success stories in the different countries around the globe. According to him the purpose of this visit was to gauge the willingness and potential in the academia, economists, civil society to promote the concept of Free Market Economy in South Asia. During his meetings at Alternate Solutions Institute in Lahore and University of the Punjab, there seemed a consensus to create an online pressure group for free trade and level playing field: humazad.com group agreed to share valuable articles on the subject on the upcoming website with permission by the authors to translate these in other languages to connect the entire Liberal community around the world.

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