The country’s economy is confronted with multifarious challenges, which have been further aggravated by unprecedented devastating flood causing 30 billion dollars loss to the country while the import bill is likely to further increase which will be unbearable under the present economic situation. This was stated by Zubair Tufail Former President FPCCI.
While felicitating Ishaq Dar being the new Finance Minister Zubair Tufail further said that the business community which was frustrated in the present economy has a great hope of new Finance Minister having experience to meet the economic challenges particularly to keep the dollar stable which is the need of hour and good for the dwindling economy. Zubair recalled that new Finance Minister had succeeded keeping the dollar stable at 105 rupees in previous period of finance ministry.
According to Central Spokesperson UBG Gulzar Feroze President UBG Zubair Tufail said that the economic situation in the present hard time when the economy,is under great stress of inflation, food inflation , instability in commodity, petroleum and utility have caused miserable situation for persons of
every walk of live who have limited financial resources.
He said that compared to other countries in the region, the utility charges in Pakistan are the highest due to which the industrial production cost has gone very high making them uncompetitive which will ultimately affect our exports.
Zubair Tufail said that good signals have started coming in with the arrival of Ishaq Dar as Pak Rs has stablished and dollar is expected to further down.
The other challenges including trade deficit, shortage of wheat and particularly the expected gas crisis in coming will be overcome with the new policies of new Finance Minister.
