Economy is moving to wards stabilisation: Mian Zahid.

• Position: Mian Zahid Hussain, president of Pakistan Businessmen and Intellectuals Forum, president of All Karachi Industrial Alliance, senior vice chairman of the Businessmen Panel of Federation of Pakistan Chambers of Commerce & Industry and former provincial minister - Conference notes

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said government wasted nine months to inaction which severely damaged the economy. Serious threats being faced by the economy have retreated and now it is moving towards stabilisation, he said.

Mian Zahid Hussain said that the dollar cannot keep a nuclear Pakistan as a hostage for long as the rupee is gaining its value against the US currency.

Talking to the businessmen, the veteran business leader said that tough decisions have been taken, bitter pills have been swallowed and now the government should start working to improve the economy so that the masses and the business community can take a sigh of relief.

The former minister noted that revenue and exports are stagnant for last ten months while investment has been reduced by 50 percent because former rulers were criticised for blunders but nothing was done to improve the situation. Inflation is rising, the rupee has lost worth and interest rate hike has shaken the economy while imports have been reduced for which credit goes to...