Record turnout showed public trust in democracy. People committed to democracy despite inflation and unemployment. The new government must cut business costs.

(February-19-2024)

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and 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 they 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 a lot; 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 every year, the economy is suffering from wrong priorities, and Pakistan’s GDP is expected to remain at only two percent.

Mian Zahid Hussain said that in these situations, it has become difficult for people and businesses to survive, 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 interests of the country 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 the international institutions.

The new government should uphold merit and take extra care in the appointment of the Finance Minister, Chairman FBR, and some other top slots to ensure smooth relations with the lenders and rapid progress.

IMF policies should be implemented, masses should be given relief and steps should be taken to increase exports, foreign direct investments, remittances, and import subsidies. 

All parties should join hands to revive the economy so that the problems of the country can be reduced and people can have a break, he demanded.