Last Two Years were Tough for Government, Masses and Businessmen

KARACHI, August 19 (Online Int’l): President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance and former provincial minister Mian Zahid Hussain on Wednesday said the last two years were very challenging for the government, masses, and the business community.

Now the economic situation is improving but the food crisis needs to be tackled to shield the masses from further problems, he said. Mian Zahid Hussain said that despite the gloomy projections of the IMF, the World Bank, ADB, and other institutions, the remittances are increasing, but it may not last for long.

Talking to the business community, the veteran business leader said that now Thr textile sector is getting orders. Consumption of electricity, petrol, diesel, fertilizer and cement is increasing while realty and stock market are getting better for which credit goes to the smart lockdown policy of the Prime Minister. He noted that inflation is increasing and the promise of reforms in the FBR and other institutions could not be fulfilled.

On the other hand, Rs148 billion were distributed amongst the poor, interest rates were reduced, the industrial sector was financed and loan repayment was relaxed which helped the masses and the business community, he added.

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