43% respondents said 2020 will be better for business.

Business owners want government to tackle the issues of rising inflation and high taxes.

A majority of Pakistani business owners are of the view that Pakistan is headed in the wrong direction, as high inflation and taxes take toll on their businesses.

According to Gallup Pakistan Survey with business owners at the end of the year 2019, three in five respondents i.e. 60 percent say they are pessimistic about the direction of the country. However, 43pc are hopeful that the year 2020 will be better for their business.

The survey is the first of a Quarterly Business Confidence Survey released by Gallup Pakistan.

Three questions were asked by Gallup Pakistan to 500 business owners serving across the country. The question what do businesses think with respect to direction of the country, has been responded with a sweeping 60pc of the businessmen saying that the things are not headed in the right direction

In query number two, businessman were questioned whether they are hopeful that the coming 12 months would be significantly better for their business. To which more than 2 in 5 (43pc) respondents replied in positive saying that that the coming year (2020) will be better for their business.

Whereas, 36pc said that the year 2020 will be worse, while 16pc said it will be the same.

The business owners also pointed out rising inflation and high taxes among the issues affecting their businesses the most. Some 22pc of the respondents say that inflation is the issue they want the government to solve. Whereas, 19pc were most impacted by taxes, followed by 11pc businessmen who were most concerned with factors impacting imports and exports.

Meanwhile, 49 percent of the respondents pointed out the deteriorating economy affecting their business the most, with 14pc viewing uncooperative government having the most significant impact.