MULTAN, Sept 8: Representatives of traders, industrialists and farmers from southern Punjab say tackling the near-bankrupt economy is the biggest challenge for President-elect Asif Ali Zardari.

Multan Industrial Estate Board of Management chairman Iqbal Hassan said economy was in such a poor condition that Mr Zardari could hardly do anything to improve it.

He said that government lacked experienced and reputed economists who could suggest it short and long term measures to arrest the economic decline.

He said the country was facing shortage of resources, including energy and food. “It is not a good sign that a wheat growing country is facing shortage of flour.”

He said that during the last year country’s export size was only $18.5 billion against $38.75 billion imports and after keeping in view the last three months imports, this year’s import size might be around $44 billion.

He suggested the government to avoid signing free trade agreements because the country had nothing to export.

He said the president-elect should also play his role in the construction of water reservoirs for agriculture and power sectors. He said India had 52 dams while Pakistan had just two.

Chamber of Small Traders chairman Khwaja Muhammad Shafiq said that although it was a pleasing thing that president had been elected through a political process, economic state of affairs could only be improved through political stability.

He said that government should take steps to reduce the import size by banning on the import of those items that could be manufactured at the local level.

He said that unproductive expenditures should be curtailed. For improving the law and order situation, the government should end its cooperation in war on terror.

Khwaja Muhammad Shoaib of Farmers’ Vision Forum said that if government was sincere in improving the economic condition of country, it should focus on improving the agriculture sector.

He said for making farming viable for farmers, the government should bring prices of local farm products at par with international prices.

He said the government should withdraw all subsidies on agriculture because these were not reaching growers. Instead, it should reduce taxes.

He said that government should take steps to increase per acre yield by utilizing technology and ensuring the availability of inputs at affordable prices.

The Chairman, Economics Department of Islamia University, Bahawalpur, Professor Dr Karamat Ali said that he was expecting a positive impact on economy after Mr Zardari’s election.

He said that it was a good sign for economy that government was eliminating subsidy but it should give attention to improving the tax system.

He said that we should work on a package of reforms to end the role of middleman from the agriculture sector. “The middlemen are exploiting small farmers.”

He said that government should also concentrate on education and a uniform education system in all disciplines.