ISLAMABAD: Finance Minister Asad Umar has raised alarm bells, hintsPakistan nears bankruptcy due huge loans and debts.
Finance Minister Asad Umar said on Wednesday that Pakistan’s basic debtshave reached alarmingly on such a high level that the country is nearbankruptcy.
Speaking in a special question and answer session on social media, hesaid: “You are going to the IMF with these massive debts in toe for abailout. We have had to fill the big gap,” adding, “if you look at thenumbers from PMLN time, there was double-digit inflation during PMLN timewhich we have thankfully not hit as yet.”
The finance minister said that unlike in the past, the inflation has nothit double-digit.
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“If you look at the past, inflation affected all stratas of societyequally. In fact the poor had higher levels of inflation affecting them. Inour tenure this has seen a different trend with the poor feeling relativelyless inflation as compared to higher income groups,” he claimed.
Umar admitted that the economy has slowed down which has resulted in lowemployment rate.
