Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said 2022 will be more painful for the people than 2021.
Pakistan will continue to be among the most expensive countries in the world in 2022 while political and economic instability, inflation, and exchange rate erosion will set new records, he said.
Mian Zahid Hussain said that the price of petrol, gas, and electricity will continue to rise while political and economic stability will continue to damage the economy in 2020 making life difficult for the people.
Talking to the business community, the veteran business leader said that 2022 was welcomed by raising the price of petrol to a record level in the country’s history.
Inflation has broken the back of the masses but at the same time Pakistan is being called one of the cheapest countries in the world but the issue of falling per capita income is conveniently ignored which is a joke, he added.
He said that circular debt is rapidly increasing and touching the level of two and a half trillion rupees. The government is borrowing heavily and getting new loans to repay the old ones, which has increased the influence of the IMF and other institutions in the country to a dangerous level.