The net future business confidence score fell to negative 22 percent, according to the Gallup Business Confidence Index (Photo: File).
Karachi: The business community is seriously worried about current and future conditions and pessimism about business conditions and prospects has increased.
This was revealed in the Gallup Business Confidence Index 2023 first quarter report of business owners. According to the survey, last year’s political instability led to various economic crises and increased business distrust.
It should be noted that the Business Confidence Index is an important barometer that expresses the sentiments of the business community in any country and is used by policy makers around the world. done with
According to Bilal Ijaz Gilani, Executive Director of Gallup Pakistan and Chief Architect of Gallup Pakistan Business Confidence Index Pakistan, businesses in Pakistan are facing many challenges, historical inflation has reduced the purchasing power of consumers, complete lack of stability in the political system and increasing defaults. The risks are not only a source of frustration for the business community but also for their customers as a whole.
According to the Gallup Business Confidence Index Report Key Findings for the first quarter of 2023, 66 percent of businesses are facing bad or worse conditions, with the number of businesses facing very bad business conditions increasing by 7 percent. This quarter saw a slight decline in the Gallup Pakistan Business Situation Net Score.
According to the survey, about 70 percent of Sindh and Khyber Pakhtunkhwa and 64 percent of Punjab’s businesses are facing bad conditions. The NetFuture Business Confidence Score has further dropped to negative 22 percent compared to negative 11 percent in the previous quarter. The business community about the direction of the country. The negative feedback is consistent with the previous quarter.
According to the survey, 58 percent of the enterprises increased their average production costs during the last quarter. 45 percent of them increased their prices by 20 to 50 percent.
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