PESHAWAR: Advisor to KP CM on Finance Muzzammil Aslam has alleged that the flopped policies of the rulers have brought the country to brink of economic disaster and current year is ending with the highest unemployment in the country in 21 years, and highest poverty level of 78 years.
In a statement here on Sunday, he said that Prime Minister Shehbaz Sharif has made 38 foreign trips in the past 22 months. He has made an average of two foreign trips per month.
He said that Shehbaz Sharif had promised to bring in 100 billion dollars in investment, but foreign investment remains zero. He said that with the end of 2025, Pakistan has fallen further behind the world and the country’s economic condition is even more fragile than being on a ventilator.
Muzzammil said that the country’s exports are declining, with exports in November standing at only 2.4 billion dollars. He said that inflation will rise further to 8.9 percent in June, and that the government is still facing a tax collection shortfall of 422 billion rupees.
Due to low tax collection, more taxes will be imposed. He said that the public is once again being punished for the government’s flawed policies, and sales tax on all goods in the country will be raised to 18 percent.
He said that the government recently took a loan of 1,250 billion rupees to eliminate the circular debt in the power sector, as a result of which a surcharge of 3.25 rupees per unit has been imposed on the public. He said that a new gas circular debt has emerged, amounting to 3.2 percent of GDP, which is 3,200 billion rupees.
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