Assets of rich rose 27% in pandemic: Report.

KARACHI -- Former President ICCI Shahid Rasheed Butt said in a statement on Saturday said coronavirus is digging the grave of the capitalist economic system as the poor are witnessing a steep fall in their income while the rich are getting wealthier with an unprecedented pace.

The income of labour has been falling since the 1970s while the assets of the rich are increasing but recently the divide between rich and poor is widening at the fastest pace resulting in widespread restiveness, he said.

Butt said that the global economy was jolted by the 2008 recession resulting in losses to the tune of trillions of dollars that added to the miseries of the masses but the rich were shielded and rewarded.

The total worth of the founder of Amazon was 6.8 billion dollars in 2009 which jumped to $184 billion in 2020 while the assets of founder of Facebook were $2 billion...

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