ISLAMABAD      -     The Pakistan Economy Watch (PEW) on Saturday said achieving economic stability amid increasing poverty in the country is a delusion of policymakers.

Reduced buying power of the masses due to increasing poverty is resulting in economic problems which are against the interests of country and people, it said. Tax measures and increased cost of energy has swept the buying power of masses, therefore, the majority has stopped buying anything except necessities which has clipped demand, said Dr. Murtaza Mughal, President PEW.

He said that reduced demand has brought down the production of factories resulting in layoffs which have thrown millions in unemployment.

Dr Murtaza Mughal said that Pakistani industry relies on the local market is exports of 300 billion dollar economy is just 19 billion dollars.

The agriculture, industry, and the services sector depends on the local market which is in bad shape due to policies of IMF which will push the country to seek another package sooner than expected.