Islamabad:The Pakistan Economy Watch on Sunday said that Prime Minister Raja Pervaiz Ashraf has failed to restore confidence of the business community.Politics remains the favourite subject of the new PM and his Cabinet while economy continue to take a backseat because of lack of commitment to change life of ordinary people, it said.
The dejected business community which welcomed removal of former Prime Minister Syed Yusuf Raza Gilani in hope of stability found nothing except disappointment, said Dr. Murtaza Mughal, President PEW.
Economic activities continue to lose momentum, economy is under renewed stress while Parliament continues to remain indifferent to miseries of masses and business community, he added.
Dr. Murtaza Mughal said that mismanagement, flight of capital, devaluation of rupee, depletion of forex reserves, repressive taxes and protecting the interests of elite suggests that government has failed to come up to the expectations of any section of society or any sector of economy.
He said that political struggle spanned over four years has adversely affected the liking for democracy among masses and business community of which a major part is long-time supporter of dictatorship which offers stability.No other forces except politicians are responsible for dwindling support for democracy among commoners as they have been failing to deliver since years, he observed.
He said that repressive policies and harassment of investors continues unabated while record corruption has disappointed masses to an extent that patriot Pakistanis are also transferring funds abroad