Rising inflation: Present rulers urged to stop blaming former govt: PBIF

KARACHI: President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has said that the government should stop blaming former government for inflation and other problems as they are ruling the country for two years and now masses will not buy their accusations.

He said that former governments took interest in keeping prices balanced and frequently held price committees meetings but the present government has not held any reported meeting so far.

He said that administrative action and threats have failed to reduce prices of flour and sugar therefore strategy should be changed to negotiations to get the desired results.

The government has pushed IPP to reduce the electricity price through negotiations and it should follow the same path for flour and sugar, he said.

Mian Zahid Hussain noted that district administrations should also follow the footsteps of former district administrations to improve the situation.

He noted that lack of investment opportunities has pushed many to invest in food items, local currency has eroded substantially, taxes on fuel are very high, while not a single kilogram of wheat or sugar has been imported since the crisis gripped the country. The production of sugarcane is lowest in the last five years and the sugar production in 2019-20 was lowest in a decade which should also be noted, he said.

Copyright Business Recorder, 2020