The Pakistan Business Forum (PBF) predicted that 2023 is going to be a tough year for the economy.
According to details, PBF Vice President Ahmad Jawad stated in a statement that Pakistan must find a replacement for the International Monetary Fund (IMF).
According to the PBF vice president, political parties lack a strategy for improving the economy. He asserted that the current inflation must also be shared by the government.
He described the government’s free-floating dollar strategy as ineffective. He added that the government would contact the IMF once again after the general.
Earlier, the Pakistan Business Forum (PBF) slammed the sudden hike in the US dollar value at the interbank level, terming it a disaster for the economy.
PBF Slams Unprecedented Hike in dollar value
In a statement, PBF Vice President Ahmad Jawad asked how the rupee’s devaluation can be permitted given it would raise inflation to 30%.
According to the PBF official, Pakistan’s total debt has increased by Rs2.5 trillion as a result of the rupee’s depreciation.
He stated that it appears that the government is prepared to comply with all IMF demands in order to restart its loan programme, and that as a result, new taxes will be imposed on businesses and the general public. The cost of fuel will also go up.
PBF official also stressed attaining a balanced development in establishing united and fair society; stressing the growth with fair distribution enabling every Pakistani to participate in any principal economic activity.