Islamabad, January 17, 2022 (PPI-OT):Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Sunday said plight of the people will increase during 2022. Pakistan will see increased unemployment, poverty, illiteracy, and crimes in 2022 while their purchasing power will decrease further.

Shahid Rasheed Butt said that the growth rate will not exceed 3percent in any case and masses will have to brave expensive electricity, expensive gas, expensive oil, and expensive food items. Masses will not get any relief while artificial measures will continue to give a false impression to the masses, he said.

He said that the situation in poorer countries will be worse than in rich countries, they will have to take more loans and people will continue to face hunger. The situation in Pakistan will be more serious than in other countries in the region, he said. Pakistan is trying to revive the stalled IMF deal so that it can get cheap loans while many countries including Sri Lanka have preferred to borrow from China instead of the IMF to tackle their problems.

In the current global situation, rich countries and international organizations have failed to act accordingly and the aid being given to the poor countries is nothing as compared to the need. Shahid Rashid Butt said that according to the World Bank, the global growth rate was 5.5 percent in 202; it will be 4.4 percent in 2022 and 3.2 percent in 2023 while the IMF will give its opinion on the global economic situation on January 25.

For more information, contact:
Dr. Shahid Rasheed Butt
Consul General Ghana
Former President ICCI
Former Patron ICST
Tel: +92-333-5132199, +92-51-2822571