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EU asks for economic reforms

EU asks for economic reforms


 ISLAMABAD: The European Union (EU) has said the newly elected government would take up office and economic reform, including the on-going energy crisis, would be high on its agenda. “The incoming government has a strong political mandate so they should use it and try to get rid of cartels, price-fixing, distorting subsidies and kick-backs, which are hampering both domestic economic growth and the inflow of foreign investment and trade,” Ambassador of the European Union to Pakistan, Lars-Gunnar Wigemark said.

While addressing international conference on “Role of Competition in Fostering Trade and Investment” organised by Competition Commission of Pakistan (CCP), he said everyone agreed that Pakistan must address these economic challenges, including the insufficient governance in many sectors of the economy. On the issue of regional integration, the EU Ambassador said Pakistan’s largest trading partner should not be the EU but it should be its neighbours particularly India should have enjoyed this status.