An Economist needed as caretaker PM…..UNISAME 18/03/13

The Union of Small and Medium Enterprises (UNISAME) urged the political parties to decide promptly about the caretaker prime minister (PM) and to immediately take steps to hand over to the caretaker set up as the uncertainty is creating a vacuum and affecting business.

President UNISAME Zulfikar Thaver said it is important that an economist is given the responsibility of the caretaker PM as the country is facing economic challenges and the transition period well managed by an economist rather than a person lacking economic skills. The caretaker PM would have to negotiate with the World Bank, International Monetary Fund and the Asian Development Bank and it is very essential that he knows the subject well to get the most favourable terms. This is only possible for a financial wizard.

He said since Dr Abdul Hafeez Shaikh has not been accepted, the second best person is Dr Ishrat Hussain and should be considered without loss of time.

He said the uncertainty is causing the overseas buyers to think twice before placing orders and if a decision is taken promptly it will remove the uncertainty and build confidence in the international market and more so if an economist is selected as a caretaker. There has been a flight of capital during the last week and this needs to be checked immediately and only a seasoned caretaker PM would be able to control this matter diligently.

The union expected the political parties to act unselfishly in the interest of the country and consider that the economy of the country is of prime importance and the caretaker PM needs to take very important decisions as the period is critical especially the forthcoming budget demands extraordinary skills and only an experienced person would be able to do a satisfactory job.

Posted in: Press Releases