KARACHI : President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance and former provincial minister Mian Zahid Hussain on Wednesday said 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 masses from further problems, he said.
Mian Zahid Hussain said that despite the gloomy projections of IMF, 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 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 the inflation is increasing and the promise of reforms in the FBR and other institutions could not be fulfilled. Rs148 billion were distributed among poor, interest rates were reduced, the industrial sector was financed while loan repayment was relaxed which helped masses and the business community, he added.
