President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said contrary to the expectations the IMF's programme has failed to bring stability
Karachi (Pakistan Point News / Online - 26th July, 2019) President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said contrary to the expectations the IMF's programme has failed to bring stability.The economy is still unsteady while GDP has contracted from $330 billion to $270 billion which has made it difficult for the government to achieve tax, economic and social sector targets, he said.
Mian Zahid Hussain noted that LSM is shrinking auto industry and many other sectors have cut production due to low demand.Talking to the business community, the veteran business leader said that the wheat target is set to be missed by 1.5 million tonnes, consumption of petroleum products is down by 25 percent and diesel consumption has been reduced by 20 percent
