President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has demanded steps to end pessimism in the masses and business community through result-oriented intervention.
Current account deficit has been reduced during the last two months which has supported foreign exchange reserves to some extent but not enough, he said.
Hussain said that growth and production in the industrial sector is on the decline, textile, general industry and large scale manufacturing is in tatters, auto production has been halved, agriculture, textile, services, local and foreign investment and stock exchange are facing problems while other sectors are also going down.
He said that exports are not picking up and borrowing continues to increase which is hurting the GDP. He noted that gas price has increased by 143 percent in one year, power tariff by 12 percent, unemployment has jumped by 5 percent, medicines have become costly up to 200 percent, health facilities are seven percent expensive and education has become expensive by 7 percent.
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