Economic decline raising question marks for govt

By Asim Hussain

ISLAMABAD: Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Friday said the political leadership is losing its credibility in the people due to the economic downturn.
Policies of promoting the nobility at the cost of commoners which is in practice for decades have pushed the country to the brink of default but it has not forced politicians to mend ways, he said. Shahid Rasheed Butt said that IMF and the FATF have trapped the country while the government has no plans to get out of this predicament.
In a statement issued here today, he said that the life of a common man has become a living hell while the elites are flourishing due to the policies framed to please them which has brought the country to the brink of civil war.
The exchange rate erosion is destroying the economy and now the threat of coronavirus is also increasing as the economic woes were not enough, he observed.
The business leader said that the approval of the budget is pending and theeconomic crisis is getting worse which has eroded the purchasing power of the people.
He noted that taxes are being levied on the poor instead of the rich who have made a mockery of tax reform claims.
Presently attempts are being made to get out of the clutches of FATF but the people are not being told who were the ones who got the country in this predicament and what action has been taken against them.
Despite fulfilling all the conditions of FATF, Pakistan is still on the grey
list which proves that FATF is a tool in the hands of global powers.

At present, the independence, sovereignty and reputations of the country are
in danger, but the elite continues to live princely lives without
discharging the obligation of paying taxes.

Shahid Rashid Butt noted that the water crisis has also engulfed the
country. In many cities, including Islamabad, the tanker mafia has increased
the price of water four to five hundred times.

Large residential societies are charging the residents for water supply
without providing a drop which has disturbed the residents and stopped
construction activities.

The black sheep in the management of many residential societies are robbing
the people in collusion with the tanker mafia while authorities are ignoring
the plight of the masses.