ISLAMABAD (July-19-2024) Former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr. Shahid Rasheed Butt, said on Friday that how can a country develop from which people and businessmen are fleeing?
He claimed that politics is the third world’s most profitable industry, which explains the reasons behind the plight of the poor population.
He added that in poor nations, the elite and the people can never develop together because policymakers are always focused on promoting the elites.
Shahid Rasheed Butt said in a statement issued here today that the interests of people are sacrificed for the sake of the elite in poor nations; therefore, these countries cannot run without the assistance of lenders.
Income support programs encourage the poor to stay impoverished. We will achieve better results if we use this capital to set up factories or give people loans to start small businesses.
He claimed that despite the constant rise in electricity and gas prices, which is devastating to people and businesses, incompetence, politics, and corruption in these sectors remain unchecked.
People are already frustrated with IPPs, and now the installation of new IPPs is robbing them of their right to live.
He said that a recent official meeting revealed the theft of gas worth forty billion rupees annually. The public bears the brunt of inflation due to the hike in gas prices, which have risen to 570% and are likely to increase further, despite the lack of effort to end theft.
He noted that stealing gas is far more difficult than stealing electricity, and it is nearly impossible to do so without the assistance of officials from the relevant departments.
