Inflation Become A Threat To Masses, Economy: Mian Zahid Hussain
Umer Jamshaid Published October 22, 2020 | 11:30 AM
Masses protesting price hike defying virus threat, Only performance can calm dissatisfied masses
Karachi (UrduPoint / Pakistan Point News - 22nd Oct, 2020) 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.
Recent Stories
Rock-solid Ruud racks up season-leading win in Barcelona
At UN, Iran says it will make Israel 'regret' reprisals
G7 hears calls for 'critical' Ukraine aid
EU seeks to leverage might to confront China, US challenge
5 Customs officials martyred as their vehicle ambushed by terrorists in D I Khan
Pak-New Zealand match called off due to rain
NHA restores traffic on roads affected by recent rains in Balochistan
China to fully support Pakistan's efforts against terrorism: Ambassador Jiang
U.S. envoy calls on Foreign Minister Ishaq Dar
Poland arrests man over suspected plan to kill Zelensky
EU wants to ease youth movement to and from UK
Police foils attempt of supply mainpuri raw material
More Stories From Business
-
Pakistan's total liquid foreign reserves reach $ 13.37 billion
8 hours ago -
Stock markets rise as traders consider US rate outlook
9 hours ago -
Business community alarmed by alleged Cigarette tax violations
9 hours ago -
High FED on cigarettes demonstrates positive impact
9 hours ago -
PTCL posts 14 % revenue growth
9 hours ago -
Prudent policies, reforms poised to result in sustainable economic growth: Governor State Bank of Pa ..
10 hours ago
-
ICCI resolute to turn Islamabad an ecofriendly city: Khalid Malik
10 hours ago -
Beijing's GDP up 6 pct in Q1
12 hours ago -
China's Q1 goods, services trade surplus exceeds 60 bln USD
12 hours ago -
Pakistan Stock Exchange (PSX) loses 43 points
12 hours ago -
KP Govt decides to establish Gem Processing & Export Centre
13 hours ago -
Rupee sheds 04 paisa against dollar
13 hours ago