{"id":204636,"date":"2021-07-17T08:36:33","date_gmt":"2021-07-17T03:36:33","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=204636"},"modified":"2021-07-17T08:36:33","modified_gmt":"2021-07-17T03:36:33","slug":"challenges-increasing-for-the-economy","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/challenges-increasing-for-the-economy\/","title":{"rendered":"Challenges increasing for the economy"},"content":{"rendered":"<p> KARACHI<br \/>\nChairman 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 challenges to the battered economy are increasing.<br \/>\nProblems are increasing as compared to facilities which have raised concerns among the business community as some sectors are showing signs of decay, he said.<br \/>\nMian Zahid Hussain said that according to government\u2019s statistics, Large Scale Manufacturing (LSM) has gone down by 20 percent from January to May while the private sector has reported a fall of 33 percent.<br \/>\nTalking to the business community, the veteran business leader said that the incentives given to LSM ended in the month of December resulting in a fall of production and now it is at the same spot where it was in September.<br \/>\nHe said that facilities provided to the auto sector can improve LSM growth as it has a good share in this sector.<br \/>\nThe business leader noted that current account deficit was 8.56 billion dollars in 2019 which jumped to $245 million surplus in 2020 but started its journey in deficit in 2021.<br \/>\nThe deficit was $274 million in first three months of 2021, it was $188 million in April and $632 million in July meaning that the total current account deficit up to the month of May was over one billion dollars.<br \/>\nFrom July to May, the trade deficit has jumped by 26 percent which will increase and may touch the mark of 40 to 45 billion dollars in the new fiscal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI 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 challenges to the battered economy are increasing. Problems are increasing as compared to facilities which have raised concerns among the business community as some sectors are showing [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-204636","post","type-post","status-publish","format-standard","category-national"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Challenges increasing for the economy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/challenges-increasing-for-the-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Challenges increasing for the economy\" \/>\n<meta property=\"og:description\" content=\"KARACHI 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 challenges to the battered economy are increasing. 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