(13 August, 2018)
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 that Pakistan is a blessing of Almighty Allah which has been established against sacrifices of millions. It the second state after the state of Medina which came into being in the name of Islam on the very virtuous night of Qadar – Blessings. Pakistan is facing several challenges since its establishment major of them are political and economical stability.
The veteran business leader said that prosperity of a democratic republic is based on the progress of democracy but unfortunately, Pakistan’s political process has been interrupted several times since independence, which caused political instability in the Country. The Country’s GDP growth has been variegating since beginning and no stability in this regard could achieved so far. In Ayub Khan’s era GDP growth has attained 10.4 percent from 6 percent, in Yahya Khan’s government it has reached to 11.35 percent, in Z. A. Bhutto’s era GDP growth has raised from 0.47 percent to 3.54 percent. In Zia Ul Haq regime, the GDP has reached to 5 percent from 4.2 percent however it has attained 10.2 percent in fiscal year 1980-81. In the first government of Pakistan Muslim League (N) GDP has declined to 4 percent from 5.4 percent, in second tenure it became 2.5 percent from 4.8 percent while in their third term, GDP has increased from 3.5 percent to 5.8 percent. In first term of Benazir Bhutto government GDP has declined by 0.3 percent, while in her second term, GDP rose by 1 percent. In Asif Ali Zardari’s era, GDP has reduced by 1.3 percent.
The former minister said that people’s have huge expectations from PTI government and Imran Khan. Currently, controlling economic crisis is a big challenge to the incoming Government. US Dollar is at Rs. 123, foreign reserves stood at $ 17 billion, trade deficit is increased by $ 37 billion while current account deficit is at $ 18 billion. All these economic indicators show the worst economy situation in the Country.
Mian Zahid Hussain said that Imran Khan in addition to attract foreign remittances from overseas Pakistanis, needs to attract foreign investment in the Country in order to improve the trade, industry and economy situation of the Country. Business community stands by Government in all measures taken for the economic and political stability of the Country and assures its utmost support in this regard.