Lahore (Lord Media): PTI leader Salman Akram Raja has warned that reliance on loans could exacerbate economic problems. Speaking at a seminar, he emphasized that without fundamental reforms, economic issues will remain unresolved, and long-term budget planning cannot be effective.
Salman Akram Raja stated that fundamental changes in the current financial system are inevitable, and reforms are essential to overcome the economic crisis. He questioned the policy of managing affairs through loans and warned that without reforms, issues will continue to escalate.
He further expressed hope that the government would make the right decisions, as Pakistan’s economy faces severe challenges. Over the past four years, national debt has increased by approximately 4 trillion rupees, nearly doubling the total debt.
Salman Akram Raja noted that the current debt level is equivalent to the total debt accumulated over several decades, with 37% of federal government expenditures going towards interest payments.
He highlighted that after defense and interest payments, resources for development projects become limited, affecting developmental expenditures. Reducing reliance on loans is necessary for economic stability.
