Govt economic statistics ‘cosmetic,’ ground realities different: Khadim Hussain

Khadim Hussain, active member of the Founders Group, member of the Board of Directors of the Pakistan Stone Development Company, Senior Vice President of the Ferozepur Road Board and former member of the Lahore Chamber of Commerce, has said that statistics presented by government institutions are largely “cosmetic” and do not reflect the actual state of the economy.

In a statement issued on Tuesday, Khadim Hussain said all sectors of the economy were under severe pressure and required extraordinary measures for recovery.

He pointed to high tax rates, escalating energy costs, and regulatory and bureaucratic hurdles as major factors tightening the grip on economic activity. He added that an excessively tight monetary policy was further hampering the revival of private sector operations.

He said the persistent failure of economic policies to deliver results stems from the lack of meaningful consultation with real stakeholders. According to him, over-reliance on bureaucratic input has compounded problems instead of resolving them.

Khadim Hussain called for strengthening the consultation process by establishing an empowered council or appointing focal persons to maintain strong linkages with private sector stakeholders.

He suggested that Prime Minister Shehbaz Sharif and the finance minister should hold meetings with representatives of local businesses and export sectors at least twice a month to gain an accurate understanding of on-ground realities and seek practical suggestions.

He said such engagement would help formulate more effective, long-term economic policies, stressing that stakeholders contributing directly to the economy must be given due importance to bridge the gap between official data and ground realities.