Photo: fileBusinessmen have demanded that Prime Minister Shehbaz Sharif declare an economic emergency in the country and take urgent steps to avoid a Sri Lanka-like situation. Meeting participants sought workable solutions to improve the deteriorating economy and later held a press conference, where they pressed the government to declare economic emergency. Pakistan Businesses Forum (PBF) Senior Vice President Muhammad Riaz Khattak said the government should announce economic emergency as the country was facing severe economic challenges with unprecedented depreciation of the rupee against the dollar. Rasheed said due to high dollar rate, the imports have also become costlier, making it difficult to run industries. Motiwala maintained that the economic situation of the country is deteriorating and industrialists are pondering over closing productions.
