Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce & Industry (ICCI) has called upon the government to focus on new policy reforms in order to generate indigenous resources instead of depending on IMF loans to run the economy as borrowing from IMF is not a long-term solution to address the issues of the economy. He said that injection of fresh cash into a bleeding economy without making structural reforms would not help Pakistan to overcome its economic problems. He said that by making frequent borrowings from IMF, Pakistan has been piling up its foreign debt burden thus making future of taxpayers and our generations bleaker. He said this while addressing a meeting of business community at Islamabad Chamber of Commerce & Industry. Sardar Yasir Ilyas Khan said that the government was not taking the business community in the loop while finalizing borrowing programs with the IMF. He said that the main reason for the fiscal deficit was that the government was spending more than generating revenues due to low tax collection. He said that the government’s economic and tax policies were not helpful for a conducive business environment due to which potential taxpayers were shying away from coming into the tax net. He said that the government has recently further hiked the electricity tariff by Rs.1.95 per unit which will further enhance the cost of doing business while notices from FBR to businesses for late tax filing will also discourage the new taxpayers from coming into the tax system.