Islamabad, February 02, 2022 (PPI-OT):Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Wednesday said there was no end to the greed of the elite who are destroying the country for their personal benefit. “The hunger for power among the nobility has bankrupted a country that had a very stable economy, he said. Shahid Rasheed Butt said that elites have been ruthlessly plundering the country’s resources for 70 years, but they want more.” Influentials have been robbing the resources of the country and the poor people, which have stoked poverty and unrest, he added.
The business leader said that Pakistan’s economic growth surprised the world in the early decades after independence and we provided loans to many countries, including the USA, Japan, and Germany. However, soon the elite gained power and with the help of their foreign masters, plundered the country and national assets, weakened key institutions and conspired to turn Pakistan into a graveyard of industries to make it a weak country dependent on borrowing. Because of the conspiracies of the influential, the productive sector deteriorated, stock exchange and property sectors have become the most profitable while industrialization has become the most arduous task, he said.
Dozens of industry groups have left the country, while hundreds of industrialists have closed their units to try their luck in the stock market or the property sector, where money can be made with little effort. Due to the discouragement of industrialization, the condition of employment, exports, and revenue in the country has deteriorated. If the elites are not restrained, the country will have no future, he warned.
For more information, contact:
Dr. Shahid Rasheed Butt
Consul General Ghana
Former President ICCI
Former Patron ICST
Tel: +92-333-5132199, +92-51-2822571