Pakistan is mired in an unsustainable debt as billions are being borrowedwithout any justification, an FPCCI official said Monday.
Horrible crimes have become the order of the day due to politicalinterference in important departments which has unnerved masses and emergedas a challenge for the criminal justice system, said Dr. Murtaza Mughal,Convener FPCCI Central Standing Committee on Insurance.
In a statement issued here on Sunday, he said that new records are beingset for loans while inefficiencies have resulted in political instability.
The former government borrowed a lot but they have a long list ofdevelopment projects while the current dispensation has nothing to show, headded.
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Dr Murtaza Mughal who is also President of Pakistan Economy Watch said thatIn 2019, total debt stood at 105.9 percent of the GDP as Pakistan’s totaldebt and liabilities surged to Rs44.5 trillion, equivalent to 106.8 percentof GDP till the end of June 2020.
