Amnesty only solution for economic revival: Dr Hussain Mohiuddin.

LAHORE -- Minhaj University's Board of Governors Deputy Chairman Prof Dr Hussain Mohiuddin Qadri said on Thursday that amnesty scheme was the only solution for revival of economy in the country.

He was speaking at an awareness session on "Islamic economic and prevailing challenges to Pakistan" here at Lahore Chamber of Commerce and Industry (LCCI) where LCCI President Kashif Anwar, Senior Vice President Chaudhry Zafar Mahmood and Vice President Adnan Khalid Butt also spoke on the occasion.

Hussain Mohiuddin Qadri said that in the next three years, Pakistan would have to repay US $ 75 billion which seemed to be a Herculean task. He said that there were two types of poverty ratio including lower middle income poverty ratio and middle income poverty ratio in Pakistan.

He said that currently 39.3 per cent of the people were included in the lower middle income ratio who earned 3 USD on a daily basis. He said that people in the upper middle income poverty were earning 5 USD per day. He said that if lower middle income and upper middle income people were combined, then about 78 per cent of the population was earning less than Rs. 40,000 per month while 22 per cent segments earn more than Rs. 40,000.

He said that according to the September 2021 report of the government, 22 per cent of the people earning 13 USD a month in Pakistan. The devastation caused by the recent floods had further increased this ratio. He said that India had lifted 415 million people out of poverty between the year 2006 to 2021. He said that according to Bangladesh's National Poverty figures of 2016 and 2017, only 24 per cent of people in the entire country were below the poverty line.

He added that every poor country was on the path of improvement and working to pull its population above the poverty line except Pakistan where people were getting poorer every year. He said that in the last three years, unemployment was continuously increasing and according to national public debt, Pakistan owed Rs 54 trillion till March 2022. He feared that public debt of Pakistan will reach 138 billion dollars by the end of 2023.

He said that according to the Network Readiness Report, which compared technology; people, policy impact and other such factors, had analyzed 131 countries and ranked Pakistan 89th.

He said that until ten years ago, the economic data of Pakistan was included in the list of South Asian countries. Whereas today Pakistan's economic data was included in the list of...

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