Pakistan is no longer business-friendly, says PBF in letter to Finance Minister

Pakistan Business Forum (PBF) urged the government to provide a clear and actionable roadmap for the upcoming year, citing the current year as exceptionally challenging for businesses. 

PBF wrote a letter to Finance Minister Muhammad Aurangzeb, highlighting the difficulties faced by the public and business community in the year 2024. The body found power excessive power tariffs and high policy rates as major hurdles that affected them severely.

The letter emphasised the need for a 'Charter of Economy' that should be developed through political and civil consensus.

The forum noted that despite another programme of the International Monetary Fund (IMF), the authorities seemed helpless to control the dollar, which indicated that the country did not remain business-friendly, expressing the need to sit to gather to find a solution to turn the country from this challenge.

The PBF also demanded the government to take measures to stabilise the rupee, warning that the economy would not recover until the dollar's devaluation is addressed.

The letter also underlined the challenges faced by the farmers, who could not receive the cost of production, prompting the decline in the quantity of the crops. The forum said  For example, wheat production in Punjab dropped to 12 million acres, far below the estimated 16.5 million acres.

It added that it is in the interest of all major political parties to come together and build consensus on these policies for  the nation's economic revival and prosperity.