AIRLINK 172.80 Decreased By ▼ -2.93 (-1.67%)
BOP 13.27 Increased By ▲ 0.15 (1.14%)
CNERGY 7.40 Decreased By ▼ -0.14 (-1.86%)
FCCL 43.60 Decreased By ▼ -0.31 (-0.71%)
FFL 14.87 Decreased By ▼ -0.14 (-0.93%)
FLYNG 26.49 Decreased By ▼ -0.41 (-1.52%)
HUBC 129.80 Decreased By ▼ -0.43 (-0.33%)
HUMNL 13.22 Decreased By ▼ -0.12 (-0.9%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 6.04 Decreased By ▼ -0.02 (-0.33%)
MLCF 55.39 Decreased By ▼ -0.64 (-1.14%)
OGDC 212.20 Decreased By ▼ -2.57 (-1.2%)
PACE 5.91 Decreased By ▼ -0.07 (-1.17%)
PAEL 41.04 Increased By ▲ 0.14 (0.34%)
PIAHCLA 16.21 Decreased By ▼ -0.11 (-0.67%)
PIBTL 9.58 Decreased By ▼ -0.17 (-1.74%)
POWER 11.52 Decreased By ▼ -0.24 (-2.04%)
PPL 178.20 Decreased By ▼ -3.28 (-1.81%)
PRL 33.49 Decreased By ▼ -0.73 (-2.13%)
PTC 22.82 Decreased By ▼ -0.24 (-1.04%)
SEARL 94.45 Decreased By ▼ -1.27 (-1.33%)
SILK 1.17 Increased By ▲ 0.03 (2.63%)
SSGC 34.94 Decreased By ▼ -0.51 (-1.44%)
SYM 15.75 No Change ▼ 0.00 (0%)
TELE 7.79 Decreased By ▼ -0.08 (-1.02%)
TPLP 10.86 Decreased By ▼ -0.12 (-1.09%)
TRG 60.90 Increased By ▲ 0.40 (0.66%)
WAVESAPP 10.69 Decreased By ▼ -0.12 (-1.11%)
WTL 1.33 Decreased By ▼ -0.02 (-1.48%)
YOUW 3.80 Increased By ▲ 0.03 (0.8%)
BR100 12,027 Decreased By -27.1 (-0.22%)
BR30 36,259 Decreased By -208.1 (-0.57%)
KSE100 113,739 Decreased By -617.6 (-0.54%)
KSE30 35,065 Decreased By -282.6 (-0.8%)

KARACHI: Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has said the costly dollar has not slowed the pace of imports which are threatening the economy by expanding deficit.

Controlling exports without compromising growth will be a challenge for the policymakers in which success is the only option, he said.

Mian Zahid Hussain said that the government wants to boost the growth rate to 4.8 percent while ADB has projected the annual growth rate at 4 percent.

He said that the veteran business leader said that the government inherited a trade deficit of 37.6 billion dollars which was controlled for some time but later policies were relaxed which resulted in threats to the economy and local currency. The economic problems were increased due to food price hikes, hoarding and profiteering, he added.

The SBP increased interest rate to control increasing inflation which is hitting the economy but some elements in the business community were quick to get loans worth Rs172 billion before the policy rate hike which will also boost investment and employment.

Copyright Business Recorder, 2021

Comments

Comments are closed.