Tuesday Jan 28, 2020
ISLAMABAD: Nearly 60 percent of the business community in Pakistan feels that the country is heading in the wrong direction, according to a recent survey by analytics and advisory firm Gallup.
Gallup Pakistan has conducted a survey of 433 businessmen belonging to different parts of the country in which a sweeping majority have said that the country is not heading in the right direction, a report claims.
However, the report published in The News on Tuesday, based on the findings of the survey, notes that a minority 37 percent of the business community feels that the country is heading in the right direction.
The findings are based on a survey in which the businessmen chosen for the poll were asked whether they felt the country was heading in the right direction. 60 percent said no, 37 percent said yes, and 3 per cent did not respond, the report said.
Of the chosen group, 49 per cent of the respondents said that the deteriorating economy was their most-pressing concern, as it was directly affecting their businesses across the country.
However, others felt that an uncooperative government was having a major impact on their business, while a small group was of the opinion that the unavailability of trustworthy workers was a problem as well.
Six percent of those polled stated that a lack of funds was a big issue, and 5 percent said that the law and order situation in the country was having a major impact on their business.
In response to another question about their hopes for the country in the coming months, a majority of the survey respondents said that the country could chose to change the direction in which it was heading.
Businessmen also appeared to be "largely optimistic" about their business doing better in the coming months. When asked about future prospects, 43 percent of survey respondents gave "positive" replies.
However, 36 per cent of the survey respondents were of the opinion that the coming year would not bring them much relief, while 16 per cent said it would remain the same. Five percent chose not to reply to the question.
When asked about issues affecting business owners and whether they would want the government to tackle them, a majority of the respondents said that inflation and taxes were the most pressing issues for them.
When business owners were then asked, “Which issue affects your business the most, for which you want a solution from the government?" 22 per cent respondents said that inflation was the issue they want the government to solve.
19 per cent business owners said they were most impacted by taxes, followed by 11 per cent who were most concerned with factors impacting imports and exports.
Four per cent of those polled said they were affected by utility prices, 4 per cent were concerned because of corruption, 3 per cent because of law and order, and 2 percent because of fuel prices.
Originally published in The News