Pakistan Tehreek-e-Insaf (PTI) leader Salman Akram Raja has cautioned that continued reliance on borrowing could further deepen the country's economic difficulties, urging comprehensive structural reforms to ensure long-term stability.
Raja's Address at Seminar
Addressing a seminar, he said Pakistan's economic challenges could not be resolved without fundamental changes in the financial system. He added that even well-planned budgets would remain ineffective if the underlying structure was not reformed.
Raja questioned the ongoing policy of running state affairs through loans, stressing that sustainable recovery required lasting and meaningful reforms. He said the economy was facing serious pressure and noted a sharp increase in national debt over the past four years.
Debt Levels and Fiscal Concerns
He claimed that the current debt level had risen to a point comparable with the total borrowing accumulated over previous decades, terming it a matter of serious concern. He further said a significant portion of federal expenditures was now being consumed by debt servicing.
According to him, rising interest payments and other fixed obligations were limiting the government's ability to invest in development projects. He added that the growing debt burden was reducing fiscal space for infrastructure expansion and public welfare initiatives.
