Mian Zahid demands steps to end pessimism in masses, business community.

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 demanded steps to end pessimism in masses and business community through result-oriented intervention.

Current account deficit has been reduced during the last two months which has supported foreign exchange reserves to some extent but it isn't enough, he said.

Mian Zahid Hussain said that growth and production in the industrial sector is on the decline, textile, general industry and large scale manufacturing is in tatters, auto production has been halved, agriculture, textile, services, local and foreign investment, and stock exchange are facing problems while other sectors are also going down.

Talking to the business community, the veteran business leader said that exports are not picking up and borrowing continues to increase which is hurting the GDP.

The former minister noted that prices of many necessities has been increased by 123 percent, the gas price has increased by 143 percent in one year, power tariff has increased by 12 percent, petrol is now 23 percent dearer...