President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said Eid ul Azha, despite Sunnah of Ibrahim (AS) is an important and unique occasion of economic activities, which benefits many sectors economically in addition to the accomplishment of religious obligation. This year 8 million animals have been sacrificed by Muslims which benefited livestock sector with good prices of their sacrificial animals, farmers have handsomely traded for fodder, transport business has been increased due to commutation of sacrificial animals and those working on daily wages and butchers have earned handful earnings.
The veteran business leader while talking to the business community said that economic activities of about Rs. 335 billion took place; sacrificial animals of Rs. 298 billion have been sold, butchers earned Rs. 26 billion and hides and skins of Rs. 10 billion have been traded so far. Uninterrupted gas and electricity supply to tanneries should be ensured for timely processing of animal hides and improved exports of leather goods and related items. No incident of terror and insecurity has been reported in any part of the Country, for which we congratulate Police, rangers and security forces.
The former minister said that the ongoing economic crisis in the Country is a big challenge for the new elected Government; to resolve this all stake holders should work together with the elected members. In Jul 2018 the trade deficit has been reported as $ 3 while the current account deficit has reportedly been more than $ 2 billion for the period. To curb both deficits, exports and revenue need to be increased while expenses need to be controlled. The policies of Prime Minister Imran Khan based on modesty need to be followed widely so that Country’s expenses could be controlled.
Mian Zahid Hussain said that expected arrival of Indian delegation to present their stand on two hydro-power projects being built on river Chenab is a good sign and will help in melting snow upon terms of both the countries. Being neighbours peaceful and strengthen relation and trade terms are in favour of both countries and their people. Government need to build and support strong friendly relationships with all neighbouring countries. Elected cabinets of federal and provincial governments should work for building the nation and prosper the Country with utilizing their best capabilities.