AIRLINK 190.16 Increased By ▲ 1.41 (0.75%)
BOP 12.83 Decreased By ▼ -0.11 (-0.85%)
CNERGY 7.21 Decreased By ▼ -0.01 (-0.14%)
FCCL 43.41 Increased By ▲ 2.86 (7.05%)
FFL 15.39 Increased By ▲ 0.29 (1.92%)
FLYNG 26.37 Increased By ▲ 0.93 (3.66%)
HUBC 130.61 Decreased By ▼ -1.89 (-1.43%)
HUMNL 13.84 Increased By ▲ 0.39 (2.9%)
KEL 4.71 Decreased By ▼ -0.17 (-3.48%)
KOSM 6.70 Increased By ▲ 0.22 (3.4%)
MLCF 49.51 Increased By ▲ 2.37 (5.03%)
OGDC 204.81 Increased By ▲ 0.01 (0%)
PACE 6.41 Increased By ▲ 0.14 (2.23%)
PAEL 40.81 Increased By ▲ 1.82 (4.67%)
PIAHCLA 16.85 Increased By ▲ 0.02 (0.12%)
PIBTL 8.69 Increased By ▲ 0.58 (7.15%)
POWER 11.02 Increased By ▲ 0.33 (3.09%)
PPL 174.44 Increased By ▲ 0.79 (0.45%)
PRL 34.71 Increased By ▲ 0.61 (1.79%)
PTC 24.99 Increased By ▲ 1.50 (6.39%)
SEARL 97.99 Decreased By ▼ -1.01 (-1.02%)
SILK 1.09 Decreased By ▼ -0.01 (-0.91%)
SSGC 31.10 Increased By ▲ 0.48 (1.57%)
SYM 17.81 Decreased By ▼ -0.02 (-0.11%)
TELE 8.30 Increased By ▲ 0.11 (1.34%)
TPLP 12.18 Increased By ▲ 0.06 (0.5%)
TRG 61.66 Increased By ▲ 0.55 (0.9%)
WAVESAPP 11.67 Decreased By ▼ -0.05 (-0.43%)
WTL 1.48 No Change ▼ 0.00 (0%)
YOUW 4.18 Decreased By ▼ -0.03 (-0.71%)
AIRLINK 190.16 Increased By ▲ 1.41 (0.75%)
BOP 12.83 Decreased By ▼ -0.11 (-0.85%)
CNERGY 7.21 Decreased By ▼ -0.01 (-0.14%)
FCCL 43.41 Increased By ▲ 2.86 (7.05%)
FFL 15.39 Increased By ▲ 0.29 (1.92%)
FLYNG 26.37 Increased By ▲ 0.93 (3.66%)
HUBC 130.61 Decreased By ▼ -1.89 (-1.43%)
HUMNL 13.84 Increased By ▲ 0.39 (2.9%)
KEL 4.71 Decreased By ▼ -0.17 (-3.48%)
KOSM 6.70 Increased By ▲ 0.22 (3.4%)
MLCF 49.51 Increased By ▲ 2.37 (5.03%)
OGDC 204.81 Increased By ▲ 0.01 (0%)
PACE 6.41 Increased By ▲ 0.14 (2.23%)
PAEL 40.81 Increased By ▲ 1.82 (4.67%)
PIAHCLA 16.85 Increased By ▲ 0.02 (0.12%)
PIBTL 8.69 Increased By ▲ 0.58 (7.15%)
POWER 11.02 Increased By ▲ 0.33 (3.09%)
PPL 174.44 Increased By ▲ 0.79 (0.45%)
PRL 34.71 Increased By ▲ 0.61 (1.79%)
PTC 24.99 Increased By ▲ 1.50 (6.39%)
SEARL 97.99 Decreased By ▼ -1.01 (-1.02%)
SILK 1.09 Decreased By ▼ -0.01 (-0.91%)
SSGC 31.10 Increased By ▲ 0.48 (1.57%)
SYM 17.81 Decreased By ▼ -0.02 (-0.11%)
TELE 8.30 Increased By ▲ 0.11 (1.34%)
TPLP 12.18 Increased By ▲ 0.06 (0.5%)
TRG 61.66 Increased By ▲ 0.55 (0.9%)
WAVESAPP 11.67 Decreased By ▼ -0.05 (-0.43%)
WTL 1.48 No Change ▼ 0.00 (0%)
YOUW 4.18 Decreased By ▼ -0.03 (-0.71%)
BR100 11,961 Increased By 56.1 (0.47%)
BR30 35,673 Increased By 313.4 (0.89%)
KSE100 113,739 Increased By 396.7 (0.35%)
KSE30 35,328 Increased By 35.3 (0.1%)

KARACHI: Chairman of National Business Group Pakistan, Mian Zahid Hussain said that it would be challenging for the new government to give the people quick relief owing to the scarcity of resources and IMF’s constraints.

He said that, besides the existing IMF agreement, entering a new programme with the lender is necessary to resolve the economic crisis. The masses and the business community hope Nawaz Sharif can start a developmental path.

He said that it would take a lot of work for the political party coming to power to implement even half of its promises. In order for the new government to recover from the economic crisis, it will be necessary to obtain a long-term programme from the IMF and create the resources to implement the manifesto. To do this, the new government must sell loss-making public enterprises and discos and broaden the tax net. Otherwise, the country will go bankrupt.

The business leader said that various politicians are busy assuring people that they will solve all their problems and start dozens of development projects.

He observed that claims are being made about reducing the record inflation and massive unemployment, ending the new wave of terrorism, and changing the country’s fate.

Mian Zahid Hussain said that former Prime Minister Mian Nawaz Sharif’s popularity is increasing and he will most likely become Prime Minister for the fourth time after the election.

However, revolutionary change seems impossible under present circumstances.

The country must submit to IMF discipline for long-term economic development. The IMF standby programme is still pending, and the final loan instalment is yet to be paid. In contrast, at least another three-year IMF programme is necessary for the country’s survival.

Mian Zahid Hussain said that almost all political leaders prioritize rural areas over urban areas in the upcoming elections as they believe that rural voters will play a key role in elections.

He further said that Nawaz Sharif rightly asked the people when he was removed from power in 2017, what was cost of a roti, what was the tariff of electricity, the rate of sugar, price of a bag of fertilizer. He is also asking the public about the cause of moves that has brought the country to this state.

Copyright Business Recorder, 2024

Comments

Comments are closed.