• Activities
    • Health
    • Education
    • Mobile
    • Sports
    • PSL
  • Economy
    • Auto Industry
    • Crypto Currency
    • Economy
    • Smart Devices
  • Tech
    • Startups
    • Social
    • Telecom
    • Technology
  • TechX World
+92 323 8324975
Sunday, March 26, 2023
TechX Pakistan | Startups | FinTech | Crypto | EdTech | Reviews
Advertisement
  • Home
  • News
  • Premium Content
  • How To
  • Advertisement
  • Contact
  • About
No Result
View All Result
  • Home
  • News
  • Premium Content
  • How To
  • Advertisement
  • Contact
  • About
No Result
View All Result
TechX Pakistan | Startups | FinTech | Crypto | EdTech | Reviews
No Result
View All Result
  • Home
  • News
  • Premium Content
  • How To
  • Advertisement
  • Contact
  • About
Home Press Release

Gallup Business Confidence Index drops to lowest level Inflation, loadshedding, lack of confidence worry business community

Muhammad Kamal by Muhammad Kamal
November 1, 2022
in Press Release
Reading Time: 3 mins read
A A
Buy author a coffee
Gallup Business Confidence Index drops to lowest level Inflation, loadshedding, lack of confidence worry business community

Entrepreneurs are getting increasingly pessimistic about the conditions of their businesses owing to the country’s political and economic situation.

According to a Gallup Pakistan survey conducted in the last quarter of 2022 for the Gallup Business Confidence Index, 65 per cent of business owners believe their businesses are facing bad conditions.

Industrial machines businesses are doing the best out of all types of businesses, with 75 per cent of them believing that conditions are good. Cloth and garment shops are experiencing the worst level of confidence, with 81 per cent of them saying business conditions are bad.

Findings of the survey show the Net Future Business Confidence score has worsened by 50 per cent since the beginning of 2022 and is now at -10 per cent.

Compared to earlier this year, the number of businesses saying the country is headed in the wrong direction has gone up by 32 per cent.

Less than 15pc of businesses in Punjab, Sindh and Khyber-Pakhtunkhwa believe that the country is headed in the right direction. A quarter of businesses in Balochistan believe the same.

Similar to the findings of the survey conducted in the first quarter of 2022, inflation remains the most-cited problem that businesses would like the government to solve by the end of this year.

As many as 72 per cent of the businesses surveyed reported experiencing loadshedding every day.

A considerable increase in the number of businesses experiencing loadshedding was witnessed in the fourth quarter. About 19 per cent of the businesses that reported facing loadshedding within a day experienced it for two hours, the survey showed.

As many as 81 per cent of the businesses said they do not believe the court system is fair, impartial and uncorrupted versus 7 per cent in the first quarter of 2022. More businesses from Balochistan disagree with the idea that the court system is fair, impartial and uncorrupted than any other province, survey results showed.

One-quarter of the businesses surveyed reported their establishment was visited by tax officials, down 12 per cent from the previous survey.

A sample of more than 700 business owners and managers across Pakistan were asked how well their businesses were doing. After Covid-19 peaked, businesses started to express greater confidence. But this confidence plummeted between the beginning and the end of 2022.

“This sudden change, and a 63 per cent fall in the Current Business Situation score, may be due to the continuous political instability over the year,” it said.

The survey asked business owners which problems were affecting their businesses considerably. Besides inflation, “customer shortage” was a problem that 8 per cent of them faced. High taxes were also perceived as a problem by 4 per cent of businesses.

“Gallup Business Confidence Report for the fourth quarter of 2022 paints a bleak picture. The index values are the worst since Gallup started the project in 2019, which includes Covid-19 times,” said Bilal Ijaz Gilani, executive director of the Gallup Pakistan and chief architect of the Gallup Pakistan Business Confidence Index.

“The report comes after Pakistan faced the worst floods in decades. The business community awaits strong and decisive steps by the government,” he added.

To read our blog on “Pakistan Consumer Confidence Index (CCI) Q4 2021 report issued by Dun & Bradstreet and Gallup Pakistan,” click here

Share48Tweet30Share8Send
Muhammad Kamal

Muhammad Kamal

Related Posts

meezan-bank-noted-as-best-islamic-retail-bank-in-world
Press Release

Meezan Bank noted as ‘Best Islamic Retail Bank in the World

by Asad Hassan
March 22, 2023
cej-ibas-click-the-digital-news-ideathon-draws-audience
Press Release

CEJ-IBA’s ‘Click! The Digital News Ideathon’ draws audience

by Asad Hassan
March 20, 2023
click-the-digital-news-ideathon-to-organize-by-iba-cej
Press Release

‘Click! The Digital News Ideathon’ to organize by IBA-CEJ

by Asad Hassan
March 19, 2023
massive-turnout-at-yic-kp-latest-career-fair-on-14-15-mar
Press Release

Massive turnout at YIC KP latest career fair on 14 & 15 Mar

by Asad Hassan
March 16, 2023
tecno-reveal-groundbreaking-chameleon-coloring-technology
Press Release

TECNO reveals Chameleon, groundbreaking coloring technology

by Asad Hassan
March 6, 2023

Follow Us

Promoted

upcoming-phones-releases-which-ones-are-worth-waiting-for

Upcoming phones releases: Which ones are worth waiting for?

by Asad Hassan
March 21, 2023
0

Even if 2022 was a fantastic year to release excellent smartphones, 2023 is no less than 2022! In reality, everyone...

hostingwalay-participating-in-cxo-global-summit-expo-in-islamabad

HostingWalay participating in CXO Global Summit in Islamabad

by Asad Hassan
January 18, 2023
0

Everyday living involves the use of technology, and our Pakistani IT entrepreneurs are using their expertise to make their communities...

Gitex makes its debut in Africa, holding its first exhibition in Morocco in May 2023

Gitex makes its debut in Africa, holding its first exhibition

by Bilquees Anwar
November 28, 2022
0

Gitex, Dubai's premier technology exhibition, said on Tuesday that it was expanding into Africa. The first Gitex Africa will be...

Welcome to GITEX GLOBAL

Are you ready for the biggest tech event? GITEX Global

by Bilquees Anwar
September 2, 2022
0

As the year started with the global tech rout, ongoing inflationary concerns, and the recent rebound, yet the tech industry...

Recent News

Mohali Stadium may not host ICC ODI World Cup 2023

Mohali Stadium may not host ICC ODI World Cup 2023

March 26, 2023
Punjab has finally announced Ramadan hours for all offices

Punjab has finally announced Ramadan hours for all offices

March 26, 2023
What impact will rising prices have on Ramadan celebs?

Impact will rising prices have on Ramadan celebs

March 26, 2023
IBA warns against removing boxing from Olympics

Boxing Assoc. warns against removing it from Olympics

March 25, 2023
Senate requested Radio Pakistan to clear outstanding debts

Senate requested Radio Pakistan to clear outstanding debts

March 25, 2023
leak-of-chatgpt-conversation-history-confirmed-by-openai

Leak of ChatGPT conversation histories confirmed by OpenAI

March 25, 2023
Currently Playing

Presence of Pakistan, Connexion Lounge sponsored by @MinistryofITTelecomPakistan @GitexTechWeek

Presence of Pakistan, Connexion Lounge sponsored by @MinistryofITTelecomPakistan @GitexTechWeek

00:01:40

#ITCN Asia ’22 | 21st International IT and Telecom Show | Curtains Opened | TechX Pakistan

00:05:28

London Tech Week 2022 Highlights | #Pakistan #Software

00:02:58

#Zindigi Future Fest ’22 Curtains Opened | Day 01 Glimpses | Tour | TechX Pakistan

00:03:13

Wait is Over, ITCN Asia Pakistan Tech Fest 2022 is live now!

00:01:44

CXO Meetup Dubai by Tech Destination Pakistan - P@SHA x PSEX x MoITT

00:02:41

Workshop on IT Investment Opportunities by Tech Destination Pakistan

00:00:56

Pakistan Pavilion at GITEX Dubai 2021

00:01:39

#GITEX 2021 Curtains Opened | Day 01 Glimpses | 5G | Technology | Tour | TechX Pakistan

00:01:33

GITEX Technology Week 2020 by TechX Pakistan - Official Media Partner

00:01:27
TechX Pakistan | Startups | FinTech | Crypto | EdTech | Reviews

In 2019, Mohammad Owais took the initiative of launching the TechX Pakistan. It is a blog project by assessing the gap in Local Technology & Social blogging. It has one simple goal of creating awareness about latest technological development in the world and especially in Pakistan. We break news, cover interviews, seminars and exhibitions locally and internationally both, related to IT Startups, IT best practices, Businesses, Automobiles, Smartphone Technology and Social Media.

© 2019 - 2023 TechX.PK - All Rights Reserved

No Result
View All Result
  • Home
  • News
  • Premium Content
  • How To
  • Advertisement
  • Contact
  • About

© 2019 - 2023 TechX.PK - All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version