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 Monday said the policy of strangulating economic activities to reduce demand in the market
Islamabad (Pakistan Point News / Online - 07th October, 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 Monday said the policy of strangulating economic activities to reduce demand in the market will never bring economic stability.Government is reducing demand on the directions of IMF which has reduced industrial output, it is closing large scale manufacturing and resulting in unemployment and anxiety, he said.
Mian Zahid Hussain said that manipulating monetary policy will not resolve issues confronting economy and disappointing business community through interest rates will remain counterproductive.Talking to the business community, the veteran business leader said that traders and industrialists are no more interested in profits but struggling to avoid the bankruptcy of their ventures.The former minister noted that the government has not reduced oil prices despite a slide in the international market and it increased electricity tariff twice in two days which will add to the cost of doing business.
