Political Parties are not Understanding The Gravity of Economic Situation; KCCI President
Expressed concerns that political parties are not understanding the gravity of the situation of the economy.
the utility prices are being enhanced unprecedently where rupee dollar parity has added fuel to fire.“
And no one knows how low the rupee would drop while agreement with IMF has added even more uncertainty.
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Purchasing power of the common man has eroded due to high inflation while many business units complained that local markets are not buying from the production units as the buying power of the masses has eroded and people are concerned over the heightened uncertainty,” he added.
Chairman BMG Zubair Motiwala warned that many businessmen are thinking of closing down their businesses.
if not forever then on a temporary basis and most of them are even looking for the second option of shifting to a worthwhile place to do business.
He lamented that banks were making humungous amount of money on foreign exchange transactions while State Bank of Pakistan had not been effectively regulating to all political parties to sit down across and make an understanding as to how the economy should function and stabilize the Rupee to its real value.
