In an Ipsos survey, 91 percent of Pakistanis described the business environment as ‘very difficult’

ISLAMABAD – Pakistan’s business environment appears to be facing a deep crisis of confidence, with 90 percent of Pakistanis rating it as extremely difficult to do business in the country, an Ipsos survey has revealed.

The survey paints a grim picture of the challenges facing businesses, with a complex tax system emerging as the biggest concern. About 46 percent of respondents identified complex taxation as a major barrier, making it the top barrier to doing business. Lack of access to financing was another major concern, with 19% of respondents saying that difficulties in accessing credit were holding back business activity.

12% blamed corruption for creating barriers, while 10% cited rising electricity and gas prices as a major burden on business. Another 7% cited government regulations, while 2% identified political instability as a key factor that makes running a business difficult.

The survey also revealed public demand for greater protection for businesses. About 76% of Pakistanis demanded additional legislation from the government to protect businesses, raising widespread concerns about the country’s business environment.

Along with this, the burden of increasing debts of the country is also weighing heavily on public sentiments. About 66 percent of respondents expressed concern over Pakistan’s growing debt burden.

Public opinion on the International Monetary Fund (IMF) program was sharply divided. When asked whether the IMF program is important for Pakistan’s economic stability, 30 percent of respondents rated it as harmful while only 19 percent rated it as beneficial.

Meanwhile, 38 percent said the IMF program does not benefit the public, reflecting significant skepticism about whether the country’s IMF-backed economic initiatives are translating into tangible relief for ordinary citizens.

The results show a disconnect between the need for economic reforms and public trust in the policies and institutions expected to deliver them, with taxation, financing, energy costs, regulation and debt emerging as major sources of concern.

The post In Ipsos survey, 91 percent of Pakistanis flagged a ‘very difficult’ business environment appeared first on Daily Pakistan English News.

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