Pakistan Business Forum says 2022 remained 'worst' year for Pakistan

KARACHI: Pakistan Business Forum (PBF) has termed the year 2022 ‘worst’ in terms of the economic condition of Pakistan, ARY News reported on Wednesday. 

Vice President Pakistan Business Forum, Ahmed Jawad said the economic policies’ continuity has become necessary now.

He predicted Pakistan’s growth rate to remain at 2 per cent in the ongoing fiscal year of 2022-23. Pakistan has to pay $26 billion in foreign debt servicing in 2023, Ahmed Jawad added.

“Pakistan is in need of the help of bigger economic powers.”

The PBF official urged the government of Pakistan to keep a balance in reforms, relief and rehabilitation process.

Commenting on the devaluation of the Pakistani rupee, Ahmed Jawad said the Pakistani rupee devalued up to Rs49.30 against the US dollar in the year 2022.

Read more: Pakistan Business Forum demands continuity in economic policies

In an earlier statement the Pakistan Business Forum (PBF), had demanded from the central bank to take necessary measures to stop market speculation and resolve the issue.

In a statement, Ahmad Jawad said, “Pakistan’s economy continues to slump despite a resumption of the IMF programme”.

He had called upon Finance Minister Ishaq Dar to announce a clear policy on the rupee to ease the pain of traders and to save the industries.”