PTI Criticizes Economic Woes Under PML-N Governance

The Pakistan Tehreek-e-Insaf (PTI) has launched a scathing critique of the government's economic management, attributing severe decline in GDP growth from over 6% to negative figures, to the leadership of Prime Minister Shehbaz Sharif. PTI Central Information Secretary, Sheikh Waqqas Akram, has highlighted a concerning reduction in average Pakistanis' purchasing power by 58% since the current administration took office.

Akram accused the Pakistan Muslim League-Nawaz (PML-N)-led government of pushing the nation into an inescapable debt trap, despite its claims of averting bankruptcy. He illustrated this with the declining purchasing power scenario; for instance, a PKR 50,000 monthly income in March 2022 is now effectively worth PKR 20,833.

Unemployment rates remain a significant issue, with Akram reporting over 18 million jobless citizens and a rising jobless rate of 22%. He warned of impending economic challenges, owing to escalating oil prices and the potential further depreciation of the Pakistani rupee. Akram criticized the government's revenue targets as unachievable and stressed that recovery seems dependent on an IMF program, as corroborated by IMF and World Bank warnings regarding Pakistan's shrinking economy.

(With inputs from agencies.)