—Says economic policies damaging economy, masses
ISLAMABAD, Nov 17 (INP): The promises made during the election campaign by PTI leaders have collided with the economic realities leaving the masses confused and troubled, a business leader said Sunday.
Masses are waiting for the delivery of any of the promises which included millions of homes, hundreds of dams, ten million jobs, better health, and education facilities and political stability, said Shahid Rasheed Butt former President ICCI.
People have not seen any of the promises come true while the constraints introduced by the policymakers have eaten up around 1.5 million jobs, caused unbearable inflation and produced uncertainty, he added.
Shahid Rasheed Butt said that the mismanagement of the economic managers has left the government with no choice but to squeeze masses to meet its increasing expenses.
The weakness in local and foreign investment and reduced remittances have also become a cause of concern while the high-interest rate is attracting some funds from abroad which can be withdrawn anytime, he added.
The business leader said that without a jump in private investment, it is hard to imagine an improvement in economic situation while deep uncertainty created by tax and other policies is making development highly unlikely.
The government is facing resource constraints, choking imports has reduced deficit but also contracted the economy which was already facing difficulties which compression in incomes is resulting in unrest, he observed.