According to a survey conducted by Gallup Pakistan, around 53% of businesses reported a decrease in spending as a direct result of economic impacts of COVID-19 pandemic.
Gallup Business Confidence Index survey report for the fourth quarter includes views/responses from more than 400 business sectors.
The survey report has revealed that despite the adverse effects of COVID-19 pandemic, 22% businesses have reported an increase in their spending, whereas 25% have argued that there was no difference in their spending.
56% of the businesspersons from manufacturing sector that participated in the survey have said that they suffered from decrease in sales. Around 53% of businesspersons complained of decrease in sales in trading, whereas for businesses the rate is 39 %.
Businesses Troubled by Issue of Bribery
Gallup survey has also accentuated the issue of businesses being forced to pay bribes to government officials which has had adverse effects on their performance and profitability.
Around 40% businesses have reportedly complained of being forced to pay bribe, the rate is even higher for manufacturing sector at 56%.
Meanwhile, 40% businesses from services sector have apprised of being forced to pay bribes, whereas the figure stands at 39% for the trading sector.
A province-wise breakdown shows that Khyber Pakhtunkhwa and Balochistan have reported the highest rate of forced bribery at 50%, Punjab – 43% and 31% businesses in Sindh have complained of bribery issue.