Islamabad, April 24, 2023 (PPI-OT):Dr. Murtaza Mughal, President of Pakistan Economy Watch (PEW) on Monday said the profiteer mafia is looting masses in such a way that it seems to be above the law. The influential hoarders have completely escaped the writ of law due to their connections with the influential, and they are constantly robbing the public.

The entire system of food supply has been hijacked, and arbitrary prices are being charged which have broken the back of the public and for millions of people flour has become more important than their life and dignity, he added.

Dr. Murtaza Mughal said that tens of millions of people are unable to feed their families due to increasing inflation and shrinking income, but the government considers that it has fulfilled responsibility by providing free flour to some poor. Those who claimed to end inflation have raised inflation to the highest level in the country's history, pushing millions of people below the poverty line, he observed.

He said that the price of fuel is increasing continuously, which is exhausting the patience of the people, and that can become a big threat to the law-and-order situation. Dr. Murtaza Mughal observed that crimes are increasing due to increasing poverty and people have lost faith in the country's system.

The government has no program to improve the economic conditions of the people, as it is focused on politics. He noted that cotton production is at a 40-year low, the textile sector is collapsing, the economy is reeling due to an appreciating dollar, delayed IMF programs and dwindling foreign exchange reserves have raised concerns and there is a shortage of life-saving medicines.

Seven percent of wheat production has been affected by rains, opportunities to earn more foreign exchange through rice and sugar has minimized, and important officials are busy in an unending political circus. He said that economic bragging by top officials does not improve the country's economy and if the situation remained the same, the country may face risk of a civil war.

For more information, contact:

President

Pakistan Economy Watch (PEW)

402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,

82-East, Blue Area, Islamabad

Tel: +92-51-2510375

Fax: +92-51-2802449

Cell: +92-321-5157671

Email: president@pakistaneconomywatch.com

Web: www.pakistaneconomywatch.com