Bu our correspondent
PESHAWAR: Qaumi Watan Party (QWP) leader and former senior minister Sikandar Sherpao on Tuesday criticised the Pakistan Tehreek-e-Insaf (PTI) government for its flawed economic policies, saying that budget deficit had hit a six-year high.
According to a press release issued from Watan Kor here, he was talking to a delegation of the QWP workers from the Buner district. Sikandar Sherpao said the budget deficit had reached Rs1.03 trillion in the first half of the current fiscal year due to a double-digit growth in debt spending and negligible improvement in revenues.
"It is the highest budget deficit for the first half in the past six fiscal years," he added. He said the budget deficit widened despite the fact that the four provinces showed a cash surplus of Rs247 billion in the first six months.
The QWP leader said the budget deficit and the current account deficit remained the two biggest challenges for the economy. "The PTI government has been unable to boost the revenues and contain expenditures. He said the key reason behind the record budget deficit was higher spending on the debt.'
Sikandar Sherpao said the currency devaluation and increase in interest rate by the central bank negatively impacted domestic and foreign debt servicing costs. "This is a quite alarming trend that the country will slip further into the debt trap which shows the economic managers of the PTI government are incompetent," he added.
Justice Tariq Mehmood Jahangiri took up Sher Afzal bail plea for hearing
CCP’s announcement made, stating that applicants are required to pay money upfront in order to enroll
According to details, the police took a van filled with female students of medical college to a police station on...
In this image, the logo of the Nowshera Press Club can be seen. — Facebook/Nowshera Press Club/FileNOWSHERA: The...
Senator Sherry Rehman said the PPP had previously extended an offer to the PTI to form a government, but the PTI is...
A division bench comprising Justice Shakeel Ahmad and Justice Dr Khurshid Iqbal heard the petition filed by the KP...