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The Pakistan Tehreek-e-Insaf (PTI) has criticised the government for dragging the economy from a robust growth rate of more than 6 per cent to a negative trajectory and reducing the purchasing power of average Pakistanis by 58 per cent since the Pakistan Prime Minister Shehbaz Sharif-led government came into power, Dawn reported.
On Sunday, PTI Central Information Secretary, Sheikh Waqqas Akram, said that the economic conditions of ordinary Pakistanis has never been as alarming as it has been in the past three years, putting the nation into a worse debt trap. He stated that the Pakistan Muslim League - Nawaz (PML-N)-led government has claimed to have saved the country from bankruptcy, but in reality, the nation has been plunged into the worst debt trap from which it would never be able to free itself. Akram stated that a person who earned Pakistani Rupees 50,000 per month in March 2022 now has the purchasing power of PKR 20,833 while someone earning PKR 100,000 back then is now having purchasing power of PKR 41,666, Dawn reported. He also criticised the government over unemployment, saying that more than 18 million Pakistanis were unemployed, with the jobless rate rising to 22 per cent. The PTI leader warned that with oil prices increasing from USD 64 to USD 75 per barrel, the current account and trade deficits would certainly increase. He also mentioned that the Pakistani rupee would face additional depreciation and interest payments would increase. Sheikh Waqqas Akram slammed the government for setting an unrealistic revenue target, stating that the new target of PKR 14,141 billion was unachievable and would further burden Pakistanis, particularly at a time when economy was contracting. He called the government's claim of bringing the country's economy out of peril as false and wishful thinking and mentioned that the International Monetary Fund in its May 2025 report, stated that Pakistan would need to enter another programme. Sheikh Waqqas Akram said that the IMF and World Bank have stated that Pakistan's economy was shrinking and unemployment was increasing and there is virtually no growth. He said that Pakistan's economy survival currently relied on IMF support, Dawn reported. He said that the release of Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan, conducting free and fair elections, strengthening independent judiciary, upholding the rule of law and restoring genuine democracy and adhering to the country's constitution can only bring Pakistan out of the prevailing hardships. (ANI)
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