By Mr. Waheed Punjwani, Businessman, Economist.
Businessmen and the public should boycott the country’s banking system for 15 days to help pull down inflation and end the continuing dollar dearth. Pakistan Business Group Organization (PBGO) President Waheed Panjwani said the chartered accountant firms should be questioned whether they serve the banks or corporate sector about the declining economy.
The interest-based or conventional banks are in a doubtful state for manipulating customers’ savings and current accounts. President PBGO said these banks should be probed into where they invest the accounts holders’ money, as they don’t disclose to their customers.
The best protest against financial issues is to boycott transactions through banks at least for 15 days, which will yield positive results. President PBGO added the banking boycott is aimed to underpin the rupee against the growing dollar, which will produce results after 15 days.
The businessmen should go to court even if needed. They should raise their voice at the international platforms to make the IMF and Pakistan government fresh loan deals disclosed. Waheed Panjwani said we will have to go to the courts to file a petition to make the government provide all details about the IMF deals and loans taken from it insofar.
We will also seek an audit of all loans from the IMF as well. Why should we call for a shutter-down strike, which will further cause us financial losses? The Karachi business community can join us in a legal battle.
Let’s have a discussion and employ legal experts even to file a petition in London court and in the United Nations in this regard. Further, he said the businessmen community should put up black flags at markets to protest the dollar gains and weakening economy, besides the biggest financial corruption. Once the banking boycott starts, their spending will fall.
The corrupt political parties and banks are behind the country’s economic troubles, which we have revealed to the world as a fact. We are made to pay the loans taken by the political families. These three parties including PPP, PML-N and PTI work in a similar way.
