2020 was a great disappointment for masses

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Mafia transferred trillions from pockets of poor to their accounts
Inflation broke all records, trillions wasted due to incompetence

The Pakistan Economy Watch (PEW) on Friday said the 2020 was stained with inflation, unemployment, and political as well as economic instability marred the year 2020.

The year was beneficial for influential mafia, profiteers, hoarders and politicians while it saw unprecedented inflation, unemployment, instability, lawlessness and tall claims, it said.

The wheat, sugar, poultry, pharma and other mafias transferred trillions from the pockets of the poor to their accounts while the tariff of electricity, gas, price of petrol and food further damaged the masses, said Dr. Murtaza Mughal, President PEW.

He said that masses were burdened with heavy taxes during the outgoing year while the practice of rewarding nobility through tax breaks worth hundreds of billions continued.

Millions lost their jobs and businesses while many more saw cutr in their incomes at a time when the price of almost everything rose exponentially breaking all previous records.

Record erosion in the exchange rate took toll on masses as well as the economy and trillions were wasted on fancy projects and deliberate delay in import of wheat, sugar, LNG and other needed items.

He said that people were kept waiting for five million houses, 300 dams, millions of jobs, billions of trees, and quality health and education facilities in 2020 but to no avail.

The unending list of the broken promises, U-turns, incompetence and corruption has come as a rude shock to the nation and the supporters of current dispensation have realized that intoxicating election promises and aspirational songs were nothing but deceit, he said.

In: Pakistan Economy WatchAuthor: pakistaneconomywatch