Everything except nuclear assets have been pledged: Mian Zahid Hussain.

On Monday, the Chairman of National Business Group Pakistan, President of Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said Pakistan had placed too much trust in international institutions and friendly countries as a result of which the economy and people are suffering. He said that the IMF wants Pakistan to take loan guarantees from friendly countries and present a plan for economic reforms to complete the ninth review, after which the staff-level agreement can be finalised.

Mian Zahid Hussain said politicians should put aside their bickering and create a consensus on the Charter of Economy or an alternative plan; otherwise, economic reforms would not become a reality.

Talking to the business community, the veteran business leader said that everything except the nuclear program has already been pledged. The country’s economy is constantly deteriorating, making it difficult for people to manage food. In this situation, the charter of the economy or alternative plan has become indispensable and should be completed on time.

The business leader said that people considered prosperous a few years ago have become miserable, while middle-class families have reached the brink. He observed that the arrival of Ramadan had increased inflation, so the people were suffering more.

Mian Zahid Hussain said that the conditions of the country’s economy are getting worse; the rupee is weakening daily while the dollar’s value is increasing. The country can go bankrupt anytime, but some politicians are making the situation worse by playing politics of hatred and anarchy even in these situations.

The situation continuously deteriorates due to the increasing political disturbances, which international institutions and friendly countries watch silently. The country’s economy will sink further into the quagmire if the politicians don’t understand.

Mian Zahid Hussain added that it is difficult to rein in the elite under these circumstances. Efforts should be made to bring stolen funds back to the country so that the debts can be paid and the people can get relief, whose purchasing power is decreasing daily.

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