On Friday, 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 many people are disappointed with the country’s future due to economic conditions. He said many flee the country to survive and keep their near and dear ones alive.

Mian Zahid Hussain said that import restrictions are causing much damage to the economy. All commodities are becoming more expensive, businesses are closing, and eight million people can lose jobs by the end of the year.

Talking to the business community, the veteran business leader said that the hope of most people and the business community has died, the country’s international ranking is continuously falling, and the people cannot cope with inflation.

The business leader said that in this scenario, the statement of the MD of IMF is like a fresh breeze as it is being taken as a staff-level agreement. UAE has also assured of loans; in this situation, the economy should be preferred over politics.

If economic and agricultural reforms are needed, that situation could be controlled, and the masses could be relieved.

Mian Zahid Hussain said that the government estimated the growth rate for the current year to remain per cent, but now according to the IMF, it will be only half a per cent.

IMF says the unemployment rate will increase from 6.2% to 7%, but local experts say the unemployed may increase by 800,000.

Mian Zahid Hussain further said that the local and foreign companies are not getting the raw materials, while the profits are also not allowed to be sent abroad. Due to this, they have stopped the new investment of millions of dollars.

Apart from the non-availability of raw materials, issues like devaluation of the currency, inflation, lack of dollars, and reduced demand are also having devastating effects on businesses.

He noted that the people are getting restless and the country is sinking, but we are at the daggers drawn while the army offers sacrifices in war against terror.

Due to infighting, the authorities have failed to provide the country with sustainable socio-economic development, human security, justice, health, education and other facilities. It will not be able to serve if the tensions remain.

Mian Zahid Hussain said the only good news is that the government has somehow saved the country from bankruptcy. Still, if the opposition’s politicking continues, it will be difficult to save the country further.