KARACHI: Chairman of National Business Group Pakistan and Chairman of Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain said the government should provide interest-free loans to the people, traders and industrialists for solar energy, wind power plants should be set up, commercial agriculture should be introduced and self-sufficiency in agricultural products should be achieved. Care units must be privatized because ignoring these reforms would be economic suicide.
He said the whole world had been pushed into an economic crisis by developed countries in a bid to punish Russia. Mian Zahid Hussain said millions of people were falling below the poverty line and the number of insecure people was steadily increasing.
He said rising inflation has eroded people’s purchasing power, hitting demand for all basic commodities except food all over the world, wreaking havoc in the productive sector. Mian Zahid Hussain said that dozens of countries used the funds allocated to the social budget for the purchase of weapons, which resulted in human tragedy.
Many countries, including the United States, are on the brink of recession with no prospect of an end to the war, and the sanctions against Russia have not proved productive. A recent report by JP Morgan indicates that a new plan is hatching to punish Russia, but if Russia, which is in a much better economic situation at the moment, cuts its oil production by half a million barrels, the price of oil will climb to 380 dollars spelling. a disaster.
Copyright Business Recorder, 2022