Delayed decisions will not improve situation but worsen it: Mian Zahid Hussain - Press Release issued by Pakistan Businessmen and Intellectuals Forum.

Karachi -- January 24, 2023 (PPI-OT)

Following is the text of press release issued by Pakistan Businessmen and Intellectuals Forum (PBIF)

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Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Tuesday said the government is taking tough decisions as its political death therefore it is important to provide confidence to the government in this difficult time.

An annual loss of six hundred billion rupees can be avoided by selling failed government institutions, he said. Mian Zahid Hussain said that there is a severe shortage of capital in the country, but despite this, billions of rupees are being wasted on failed government companies.

Talking to the business community, the veteran business leader said that if these failed entities cannot be sold immediately, it is possible to avoid the loss of hundreds of billions of rupees by shutting them down. He said that strict decisions regarding the theft of electricity and gas and line losses have become inevitable for national security.

The experiment of providing cheap goods to the public through utility stores has also failed and is causing disrepute for the government therefore poor should be given direct subsidy, he added. The reason for controlling the value of the dollar is that currently the dollar is being sold at three different rates through the inter-bank, open market, and reference, due to which exports and remittances are...