KARACHI, Dec 6: Paul Raus, newly-designated IMF representative to Islamabad, visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Saturday.

Acting FPCCI President Khurshid Ahmed Jogezai welcomed the guest while FPCCI Vice President Zubair Tufail discussed the role of FPCCI in the economic development of Pakistan.

Tufail mentioned absence of a level-playing field, and said Pakistan’s industry cannot survive in the international market.

Khurshid Jogezai, Mansha Churra, M A Lodhi and Ayub Maher discussed IMF policies, and pointed towards the adverse effects of high banking spread in Pakistan and inflationary policies.

Raus justified the IMF recommended policies.

He agreed that supply side policies are required for a sustainable economy in the long-term. He was, however, of the view that demand management policies are required for equilibrium in the short run.—APP