Pakistani businessmen suffer from fear of default

Pakistani businessmen
Source: File Photo

Karachi: Majority of Pakistani businessmen are afraid of bankruptcy of the country.

In a survey conducted by Gallup Pakistan, the position of the majority of businessmen has come out that Pakistan will not be able to pay its foreign debts, while the majority do not even have the hope that caretaker Prime Minister Anwarul Haq Kakar will be able to pull the country out of the vortex of inflation. will

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Gallup surveyed more than 500 businesses, and found that nearly half of those surveyed had laid off workers by June 30, 2023 to cut production costs, with 72 percent worried about the risk of default. , of which 49 percent are strongly confident of default, while 17 percent see no risk of default, Pakistan’s foreign exchange reserves stood at $7.85 billion on August 25.

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Experts say that Pakistan does not face any serious risk of default, Pakistan is included in the IMF program, which eliminates the risk of default, but they said that if the loans are not rescheduled in the next two years. Failure to do so may result in a risk of default.

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According to Gallup, the majority of Pakistani businessmen do not believe in Anwar Haq Kakar’s abilities.

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