Special Assistant to Chief Minister Khyber Pakhtunkhwa for Information and Public Relations Shafi Jan’s criticised Federal government anti public policies and said that interest payments have swallowed up national resources and inflicted negatives impacts on provincial economies.
The federal government is burdened by debt, the national debt has reached Rs 79.9 trillion in just eight months, Shafi Jan said. He added that Interest payments have swallowed up national resources, interest on loans has exceeded the total rate of defence and development budget.
Middle East tensions have further complicated Pakistan’s economic situation as oil and fertilizer are expensive, both agriculture and industry are at risk. FBR fails to achieve tax targets, tax-to-GDP ratio stagnates, Monetary policy for State Bank are more complicated while economic direction not being determined, Shafi Jan
New wave of inflation and energy crisis have further weakened the purchasing power of the people. The burden of federal economic failures is being transferred to provincial economies. Federal fiscal weaknesses will also have a direct impact on provincial development projects.
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