Unbridled inflation take away purchasing power of every class.

Mian Rashid Asghar.
FAISALABAD: Unbridled inflation has taken away the purchasing power of every class. Where there is something called & named as government, this is not possible under their hands to provide relief. These views were expressed by Nasir Yousef Wohra to the media person during the press conference.
He further said that political crisis, unrest, high inflation and chaos have sunk the country’s economy. The economic and security situation is very bad. All the attention of the rulers is on saving their seats, while the problems of the common man have increased exponentially. Prominent businessman Alhaj Naseer Yusuf Wahra President Cloth Board Ittehad Group Faisalabad has further said that the avenues of investment in the country are almost closed. Pakistan is going through the worst economic crisis in its history, the wheels of Mills, factories and industries have stopped. There is desolation in the markets. According to the report, the statistics of the banks show that due to the worst economic conditions in Pakistan, capitalists are forced to keep their capital in the banks. According to the experts, the increase in bank deposits despite the tough economic conditions Challenges facing investment and trade in the country, he elaborated. According to statistics, the value of bank deposits reached 22 thousand 300 billion rupees in February 2023. In February of last year, bank deposits were at the level of 13 thousand 300 billion rupees, there was an increase of 15% in bank deposits in one year. He described that, according to experts, due to the reduction in economic activities, the ban on imports, the activities in the stock market are limited, the account capital is kept in banks on compelling reasons. Remember that in the economic context, the government from the banks, there has been a significant increase in indebtedness and the global rating agency. Moody’s has also downgraded the ratings of five major banks in the Gulf region, which are linked to the risk of Pakistan’s default.
He further said that the coalition statements of the political parties will not make any difference to scale up the economic development, rather the crack in the economy of Pakistan is becoming a serious situation ‘which is not being realized’.
There is a dire need of such a sincere leader in the country who can give relief to the people in real sense, otherwise we all are going to drown. He informed that, in fact Pakistan’s economy has stuck with worst conditions.