As 2024 draws to a close, the Pakistan Business Forum (PBF) has reported that it has been one of the most challenging years for both the business community and the public.
PBF has penned down a letter to Federal Finance Minister Muhammad Aurangzeb, highlighting 2024 as one of the toughest years for both the business community and the public, while urges the government to announce a clear and workable economic roadmap for 2025.
The PBF stressed that high electricity bills and rising interest rates have left businesses struggling.
Despite securing another IMF program, the rupee has failed to strengthen against USD, and the country is no longer seen as business-friendly.
The forum calls for urgent steps to stabilize the economy and strengthen the rupee, as efforts to reduce financial pressure will remain ineffective without it.
READ: Pakistani rupee losses value against US Dollar
The letter also points out the difficulties faced by farmers in 2024, with many unable to recover production costs.
In Punjab, the wheat crop was cultivated on only 12 million acres, well below the target of 16.5 million acres.
The PBF stressed the need for a charter economy with broad political consensus and civil society support to address these challenges.
The letter urges all major political parties to come together and create a united economic plan for Pakistan’s better future.
Source: Daily Jang
