Business community feeling the pinch of economic crunch - Press Release issued by Atif Ikram Sheikh.

Islamabad -- November 23, 2022 (PPI-OT)

Following is the text of press release issued by Atif Ikram Sheikh


Former Vice President of FPCCI Atif Ikram Sheikh on Wednesday said inflation is driving people mad while the business community is feeling the pinch of the economic crisis. Inflation is increasing, but wages and profits are stagnant, which is prompting the masses to change their opinion about the claims of political leaders, he said.

Atif Ikram Sheikh who has also served as Chairman PVMA said that Pakistan is facing unprecedented inflation which is more than all the regional countries and it has become one of the costliest countries in the world. Talking to the business community, he said that the reasons behind inflation are a hike in the price of oil, gas, and other things in the international market, rising shipping costs, erosion in the value of the local currency, mismanagement, and profiteering.

He said that the former government adopted a policy of growth and short-term moves was preferred which resulted in an economic crisis...

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