(July-12-2024)
Chairman of FPCCI Advisory Board and National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Friday that the inflation has been going on for three years. It has left the masses in deep trouble.
He said that no government has been able to reduce inflation in the last three years. A few months ago, there was some reduction in inflation. Still, inflation is being increased again due to the increase in electricity and gas tariffs and taxes.
Mian Zahid Hussain said that inflation is damaging the economy while the high cost of living frustrates and angers people.
Talking to the business community, the veteran business leader said that for the first time in the country’s history, the wave of inflation has been going on for three years and will continue.
He added that little has been done to combat inflation, and the rulers are trying to appease the people through promises and statistics.
The business leader said that people are currently having problems paying electricity bills. At the same time, their condition will worsen from next month due to additional tax deductions in salaries, an increase in electricity rates, a hike in fixed payments and overbilling.
Mian Zahid Hussain said that the people are bearing the brunt of the politicians’ wrong policies and the bureaucracy’s incompetence, and the masses are made to pay for all kinds of corruption in the energy sector.
The quality of life of the people continues to be destroyed in the name of economic stability. He observed that businesses are closing, unemployment is rampant, and public outcry is rising.
There is a strong possibility of a drastic increase in the country’s crime rate before the people’s patience is exhausted.
Mian Zahid Hussain said that the current policies are making millions of people mentally ill, and the unemployment of the people can take any direction at any time, which will be difficult for the state to deal with.
If the situation gets out of control, it may become difficult to control the people, even though repressive measures. Those running the country should make decisions according to the ground realities. Otherwise, he warned that their grip would weaken, and anarchy would spread in the country.
Even now, if the fire of rising inflation is not extinguished, it can burn everything, he said, adding that Nepra has approved the imposition and increase of fixed charges from and has also approved an increase of 184% in fixed charges for households and other consumers.
Mian Zahid Hussain further said that fixed charges have been increased by 200 rupees for household consumers for using 301 to 400 units per month, 400 rupees for using 401 to 500 units of electricity per month and 600 rupees for using 501 to 600 units per month. In contrast, the burden on commercial, agricultural, and industrial users has also increased, which is commendable.
