ISLAMABAD: The PML-N government has borrowed over $44 billion during itstenure, which is a record high, said Federation of Pakistan Chambers ofCommerce and Industry (FPCCI) Chairman Coordination Malik Sohail Hussain onSaturday.

Despite borrowing on such a massive scale, the standard of living of massesor the national economy could not improve, he said. “Now, the country is onthe brink of bankruptcy as it was in 2013 when the PML-N came to power,”Hussain added.

Recounting failures of the previous government, the official said thatforeign exchange reserves continued to fall, necessitating another IMFbailout package on harsh conditions.

The business leader remarked that energy imports reached almost 60% oftotal exports, but the government failed to end load-shedding or settlecircular debt, which reached new heights during its tenure.

“Mismanagement in the LNG deal inflicted heavy losses on the exchequer andpaved the way for gas sector circular debt for the first time in history ofthe country.”