President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said sliding economy, unemployment and continued inflation has resulted in political instability in the country. Masses and industrialists are paying a heavy price for the instability and they would continue to brave it in the near future, he said. Mian Zahid Hussain said that political and economic stability requires more than loans, claims, promises, slogans, and speeches otherwise, not a single country on earth would have been underdeveloped. Talking…
Author: Mian Zahid Hussain
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said the government has no option but to increase tax income and exports to make Pakistan a respected and independent country on the global stage. History suggests that the nations reliant on loans and aids are never respected or heard and they lose the ability to defend themselves from adversaries, he said. Mian Zahid Hussain said that Pakistan is facing increased challenges, especially on the economic front, that can…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said efforts of Prime Minister Imran Khan to improve the business environment have worked well and the World Bank has improved Pakistan’s ranking from 136th to 108. A jump of 28 spots on the ease of doing business ranking covering 10 countries will improve image, confidence and the investment climate, he said. Mian Zahid Hussain said that a lot has to be done to improve the economic situation as…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday expressed deep concern over increasing hunger in the country. The government should take immediate step to arrest malnutrition otherwise it can result in heavy political and economic price, he said. Mian Zahid Hussain also called for legislation ensuring that food security is the basic right of every person in the country so that we don’t have a weak and unfit generation. Talking to the business community, the veteran business leader said…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said Khyber Pakhtunkhwa government should take note of the plight of Marble City Risalpur (MCR). The facilities promised to the investors should be provided to attract an investment of six billion rupees which will boost revenue and employment, he said. Mian Zahid Hussain said that Pakistan Stone Development Company (PASDEC) announced the establishment of MCR in 2009 on 185 acres of land. 199 plots were offered at high rates…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said despite best efforts the government has missed quarterly revenue target set by IMF which may lead to a mini-budget. The revenue target of Rs1071 billion has been missed by Rs116 billion despite the imposition of new taxes worth Rs735 billion and holding back refunds, he said. Mian Zahid Hussain said that the government abolished zero-rating and took heavy advance from different companies but to no avail. Talking to…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said taxing agricultural income can help reduce poverty and unemployment. Collection of mere Rs2 billion by provinces from a sector representing 19.2 percent of the GDP is a joke therefore the responsibility should be given to FBR, he said. Talking to the business community, the veteran business leader said that proper inclusion of agriculture sector in the tax net can help the government achieve R5.5 trillion tax targets while reducing…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said China has decided to invest $410 billion in different sectors of the Iranian economy. The repercussions of the Chinese decision to invest in energy, infrastructure, and manufacturing would be felt globally and it will add to tensions between Washington and Beijing, he said. The move will secure the Chinese economy, strengthen the Iranian economy, increase its influence at the regional and global levels and escalate the insecurity among…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said low cotton production will become a threat to the textile industry. Farmers are losing interest in cotton crop due to increasing problems which is resulting in a reduction in area under cultivation and production which can become a problem to largest urban employment and largest export sector of textile, he said. Talking to the business community, the veteran business leader that government should consider incentives and support price for…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said fake news regarding blacklisting of Pakistan by FATF was part of Indian information warfare. The fake news was issued by Indian state-run news agency which claimed that FATF’s Asia Pacific Group has blacklisted Pakistan which created panic in the market as the response of our concerned departments was very slow, he said. Mian Zahid Hussain said that Indian conspiracy changed the sentiments in the stock market resulting in…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday lauded Prime Minister Imran Khan’s speech on Kashmir crisis. The PM’s speech was according to the aspirations of people of Pakistan and Kashmir while the Chief of Army Staff (COAS) statement in which he has reassured to standby Kashmir has boosted the morale of people and put rumours to the rest, he said. Mian Zahid Hussain said that civilian and military leaders are on the same page on Kashmir…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said COAS Gen. Qamar Javed Bajwa has responded to Indian according to the aspirations of the masses. Masses need not to worry as the army has all the abilities and capabilities to frustrate unholy designs of the enemies, he said. Mian Zahid Hussain said that Indian annexation of Kashmir has put the world’s peace at stake which will damage all regional economies and push millions in poverty. Talking to…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said the country is in grip of uncertainty and fears after the annual budget which is taking a toll on the weak economy. The political situation is not calm, stock market and industries are worried and confused while economic indicators are worsening increasing value of dollar and gold, he said. Now, the interest rate hike will result in another wave of inflation as the policy rate during the current…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said COAS Gen General Qamar Javed Bajwa has rightly pointed out issues keeping economy hostage which is laudable. Speaking at a seminar at National Defence University, the COAS linked revival of the economy to sovereignty which indicates his interest in the improvement of the overall economy which is praiseworthy, he said. Mian Zahid Hussain said that the remarks of COAS indicate that the government and army are on the…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said that the central bank has left the local currency on the mercy of market forces despite assurances. Leaving rupee high and dry has broken the back of the masses and pushing economy towards disaster, he said. Mian Zahid Hussain said that the debt stock continues to increase by hundreds of billions of rupees, prices of everything is out of control but policymakers seem to be unconcerned therefore the…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain last Wednesday said withdrawal of the zero-rated regime will hit masses, exporters, and the economy therefore the decision should be reconsidered. The decision will result in unemployment while per capita income can go down by three hundred dollars within three years while the competing nations will see improved per capita income during that time, he said. Talking to the business community, the veteran business leader said that enhanced powers and extra protection given to tax…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday lauded the decision of Army to freeze its budget which is an expression of patriotism and sharing the burden with the government. The move of the COAS Gen. Qamar Javed Bajwa is highly laudable but unsuitable in the current situation as internal and external threats to the country have increased manyfold, he said. Talking to the business community, the veteran business leader said that extremists have been elected in…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday lauded the decision of the Prime Minister Imran Khan to nail gas thieves. The countrywide operation is laudable but incomplete unless action is initiated in the district of Karak and adjoining areas, he said. Mian Zahid Hussain said that Prime Minister has directed the authorities to take actions against personnel of gas companies who are facilitating in gas theft which is a commendable move. Talking to the business community,…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said recently announced monetary policy is too aggressive. An interest rate hike of 1.5 percent by the central bank is over and below the expectations of the experts and the business community but it will choke the economic growth at this critical juncture, he said. Talking to the business community, the veteran business leader said that the monetary policy after a poorly negotiated deal with the IMF, will hit…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday expressed concern over rising tensions between the US and Iran terming it a great threat to global peace and GDP. The global community should play its role in diffusing tensions otherwise, oil prices can jump beyond $100 a barrel leaving dozens of countries and billions of people vulnerable, he said. The increasing tensions can lead to global unrest, political turmoil and widespread poverty as budgets of all the oil…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said productive sector should get top priority in the upcoming budget. The key to increased exports, revenue generation and job creation lies with the productive sectors which should be promoted to make country self-reliant, he said. The veteran business leader said that the direction of the economy is not right while capital continues to flow towards speculation and services sectors because of good profits and less trouble while the…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said that slated profiteering across the country before the advent of the holy month of Ramazan which has added to the miseries of the masses. He said that claim of zero load shedding by top officials was a political statement as the situation in the ground is different and masses across the country continue to suffer due to frequent outages. The Veteran Business Leader while talking to the business…
President Arif Alvi has said that the Government is seriously striving to revive the economy and improve standard of living of masses while results of our selfless efforts will emerge soon. He said that economic revival is impossible unless the private sector is facilitated which will enable them to boost production, exports and create jobs. He said this while talking to a delegation of the business community led by President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain. The delegation included Zakaria Usman, Shaukat…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said the Government has already increased gas tariffs 143% in October 2018 and now again OGRA seems determined hike up the prices by 75 to 80% and the new rates will be implemented from July 1, 2019. This hike in price was proposed by SNGPL, under their proposal they had suggested Rs.732 increase in price per MMBTU of gas. The Veteran Business Leader told the business community that frequent…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said that the talks between Pakistan and International Monetary Fund (IMF) for the next bailout program are heading towards its final phase. A staff level mission from IMF will be visiting Pakistan this month to finalize the Memorandum of Economic and Financial Policies (MEFP), which will be presented to IMF board and the remaining process for the bailout package will most likely to conclude before the end of the…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said it’s good to see PTI led Government taking some tangible steps towards the fulfilment of their promise to make Pakistan a poverty free nation by following an example the “Chinese” model for the reduction of poverty. The dramatic progress in reducing poverty over the past three decades in China is well known. According to the World Bank, more than 500 million people were lifted out of extreme poverty…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said that Pakistan is the second state after Madina which came into being in the name of Islam. Muslims of the sub-continent has found a track of efforts since the Resolution of Pakistan passed on March 23, 1940 and that lead to the creation of Pakistan on August 14, 1947. Armed forces, religious scholars, public institutions and business community have played vital role for strengthening defence and economy of…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said that extension in tax return filing till March 31, 2019 is appreciative measure of FBR. Tax collection should be made easy, convenient for the tax payers. For increased collection, tax base should be increased and tax payers should be dealt with honour and grace. The Veteran Business Leader told the business community the black sheeps are harassing the genuine tax payers and creating fear in the environment, which…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said that United Nations in its recent report on youth development disclosed that 1.4 million youngsters enter job market each year. Around 1.3 million new jobs are required to facilitate them on annual basis. The 64 % youth population is the real asset of the Country; Government is required to take practical measures to include the young population in economic development of the country through quality education, vocational training…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said that economic outlook of the country has improved significantly given to investment and industry friendly policies of PTI led government. In comparison to the last fiscal year current account deficit and trade deficit have been reduced by $ 2 billion and $ 1 billion respectively in the first seven months of the current fiscal year. Remittances of around $ 13 billion have so far received in this period…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said that Pakistan shares close and old bilateral relations with Belgium in different areas of interest including security, defence, science & technology and trade and economy. EU is the biggest export destination for Pakistan with 34 percent share Pakistan’s exports, however as per 2016, Belgium’s share in total exports was 9 percent while imports to Pakistan were 6 percent. Despite potential of $ 2 billion, Pakistan could export only…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said that issuance of Pakistan Banao Certificate (PBC) is a good initiative of PTI led Govt. for benefitting overseas Pakistanis giving them the opportunity to invest and build their Country through safe and convenient investment scheme. PBC will not only help in releasing pressure on the Country’s FX reserves but will also grant overseas Pakistanis the opportunity to invest in Pakistan. Currently, the State Bank has reserves of around…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said that textile sector plays vital role in Country’s economy; having 8.5 percent share in GDP, 40 percent share in industrial workforce, 25 percent share in industrial value addition and 21 percent share in large scale manufacturing. Readymade garment is most important subsector of textile and plays an important role in exports and women employment. The Veteran Business Leader while talking to the business community said that despite the…
100,000 jobs offered by Qatar will reduce unemployment, increase foreign exchange. President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said that the envoys conference organized by the government is appreciative as Pakistani ambassadors play vital role in the image building of the country. Given to the current economic situation of the country, timing of envoys conference is very important and will draw positive impacts. Prime Minister Imran Khan gave clear instructions to resolve issues faced by overseas…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said that Jhelum is an important district of population exceeding 1.2 million with huge potential of agriculture, industry, mineral and tourism. The agriculture products are comprised of various commodities, vegetables and fruits including ground nuts, rice, wheat and sugar cane. More than 100 industrial units are established in the city including cement, flour, chemical, tobacco, textile composite and oil mills with a small industrial zone to facilitate industrialists. Jhelum…
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said that livestock sector contributes 59 percent of agriculture’s production and 12 percent of country’s overall GDP. In fiscal year 2018 the sector earned foreign exchequer of $ 105 million through export of meat. Exports are comprised of many products including hides, bones and bone products, live animals, wool and poultry. In international market of $ 3, Pakistan has a meagre share however, livestock sector suffice the local demand,…
Pakistan’s economy has largely impacted by the 9/11 and its consequences, especially the US the war against terror back in 2011. Being the basic ally of US, Pakistan and Pakistan’s economy faced major losses. Financial and economical losses exceed $123 billion in addition to the infrastructural and human losses. Despite all losses, terrorism, internal and external threats, Pakistan by the grace of Almighty Allah survived and bravely fought all the hurdles in country’s growth including terrorism and gave commendable sacrifices with the joint efforts of current government and military establishment. The current government has taken significant measures in fighting terrorism…