PML N economic team excuses to give much relief to public due economic conditions

PML N economic team excuses to give much relief to public due economic conditions

PML-N leaders say PTI's wrong economic policies have led to a projection of 6,400 billion rupees in the current budget deficit.

PML-N leaders Miftah Ismail, Muhammad Zubair and Dr Musaddik Malik claimed this while talking to media in Islamabad on Tuesday afternoon.

However the PTI leaders have excused to give much relief to public in inflation and petroleum prices as the economic conditions are not good.

Further more the IMF deal will not allow the government to give much subsidy in electricity prices and the relief package will be taken back.

Miftah Ismail said expenditures are likely to go beyond 9,500 billion rupees, which is unprecedented in the history of Pakistan.

He said the total debt from 1947 to 2018 was 25,000 billion rupees, whereas PTI Government took 80 percent of the total debt in just three and half years.

He said primary deficit is being projected as 1650 billion rupees. He said trade deficit is expected to touch the figure of 45 billion dollars, which is all time high in the history of Pakistan. He said foreign exchange reserves are also depleting with growing Current Account Deficit.

Miftah Ismail said it is top priority of the new government to stabilize depleting foreign exchange reserves. He expressed the resolve to make no stone unturned to overcome the economic challenges confronting Pakistan.

Musaddik Malik said Pakistan's income is reducing, while expenditure is on the rise. He said this economic meltdown is because of the poor polices of the PTI government. He said rupee's value has slashed to half.

Muhammad Zubair also criticized the economic policies of the outgoing government and vowed to make maximum efforts to put the country on the path of economic development and progress.