Economic freefall fuelled political instability. Borrowing can never result in economic stability. Govt, Opp should strive for economic stability.

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(November 04, 2019)

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said sliding economy, unemployment and continued inflation has resulted in political instability in the country.

Masses and industrialists are paying a heavy price for the instability and they would continue to brave it in the near future, he said.

Mian Zahid Hussain said that political and economic stability requires more than loans, claims, promises, slogans, and speeches otherwise, not a single country on earth would have been underdeveloped.

Talking to the business community, the veteran business leader said that the world would not have witnessed unemployment, conflicts and extremism if tall claims were enough for stability.

The former minister noted that political and economic stability cannot be manufactured; it requires balance in external trade, economic activities, and vision to understand and tackle ground realities. He said that the aspirations and demands of the masses can be ignored as it creates space for the extremist elements to play their game. The government need to improve governance and the economy which is going down due to falling exports and other reasons resulting in inflation, unemployment, and unrest, he said.

Mian Zahid Hussain noted that the unrest among masses have provided an opportunity for the opposition to unite against the government.

The opposition would have lost appeal if masses were given relief and the services they deserve. He said that increased political intolerance has supported the current protest in Islamabad which has broken the record of sit-ins of PTI and Tehreek e Labaik. The opposition parties got a favorable situation without effort as the ground was created by those close to the corridors of power.

He observed that the government was compelled to provide relief to non-filers which will push downward revision in the revenue target of Rs 5500 billion and introduce mini budgets. He called upon the opposition to observe restraint and that all patriotic powers should be united on a joint economic development programme.

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