Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that the record turnout during the recent elections proved the trust of the masses in the democratic process. Despite record inflation, poverty, unemployment, and instability, more than six million people exercised their right to vote, which shows that they are not disappointed with democracy and want a continuation of democracy, he said.
Talking to the business community, Mian Zahid Hussain said that incompetence, mismanagement, and corruption have led to the fall of the country’s economy, which needs efforts for revival. The debt burden has increased significantly; the power, gas, and other sectors are in trouble, and circular debt has touched Rs 6,000 billion. The business leader said that failing government companies are wasting trillions of rupees yearly, the economy is suffering from wrong priorities, and Pakistan’s GDP is expected to remain at only two per cent.
Mian Zahid Hussain said that it has become difficult for people and businesses to survive in these situations, but despite this, the people have not lost hope.
He said that the people still understand that their quality of life will be improved by the political leaders. A good environment will be provided for employment and business, and the country’s interests will be served.
He said that it will now be the duty of the new government to take appropriate steps to meet the expectations of the people, businesses, and international institutions.
The new government should uphold merit and take extra care in appointing the Finance Minister, Chairman FBR, and other top slots to ensure smooth relations with the lenders and rapid progress.
IMF policies should be implemented, the masses should be given relief, and steps should be taken to increase exports, foreign direct investments, remittances, and import subsidies.
He demanded that all parties join hands to revive the economy so that the country’s problems could be reduced and people could have a break.