Karachi, October 21, 2020 (PPI-OT):President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said runaway inflation has become a serious threat to the masses and economy. Inflation and diminishing incomes have left people with no option but to take to streets regardless of virus threat which can spread infection at an alarming level leading to a lockdown which will bring masses and economy down once again, he said.
Talking to the business community, the veteran business leader said that apart from political workers, government servants and health workers etc. have taken to streets for better wages and other demands. Mian Zahid Hussain said that protestors are not ready to buy threatening statements against hoarders and claims that the former government is responsible for the whole mess.
He said that the government needs to take meaningful steps to contain inflation and use all resources in its power to stop profiteers from the artificial price hike to counter public anger. The protests will never die down unless some relief is offered to the masses which are enraged over the loss of incomes and high food inflation touching 14 percent.
He said that creditors have extended the deadline for repayment of loans which has strengthened value of rupee and reduced debt and liabilities by Rs400 billion. The retreat of the US dollar has not reduced prices, therefore, the government should consider cutting its expenditures which may provide some relief to the masses dissatisfied over rising prices, he said.
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Pakistan Businessmen and Intellectuals Forum (PBIF)