Coordinator to Minister of State and Federal Tax Ombudsman Meher Kashif Younis Thursday said economy and democracy are crucial pillars for the development and stability of the country. Talking to a delegation of women entrepreneurs led by the recipient of the best CEO award Ms Maheen, he said a strong economy fosters growth, job opportunities, and improved living standards, said a news release here. He said democracy ensures a representative government that upholds the rule of law, protects human rights, and encourages people participation in decision-making. The synergy between a stable economy and a functioning democracy is vital for Pakistan’s progress and sustainable development, he remarked. However, it’s important to recognize that specific challenges and priorities may evolve, and continued efforts are needed to strike a balance between these two pillars. He said on the other hand, a healthy economy with opportunities for growth and prosperity can strengthen democratic institutions. He said a robust economy can lead to improved living standards, reduced poverty, and increased access to education and healthcare. Balancing the economy and democracy is an ongoing process that requires careful consideration, public discourse, and a commitment to uphold democratic principles while promoting sustainable economic growth he added. Ms Maheen said economy and democracy are closely intertwined concepts. In a democratic system, the economy plays a crucial role in shaping people’s lives, opportunities, and overall well-being. Conversely, democratic governance influences economic policies and decisions, she added.