PML-N govt economic vision outdated, ineffective: Muzzammil

PESHAWAR
Advisor to the Chief Minister Khyber Pakhtunkhwa for Finance & Interprovincial Coordination Muzzammil Aslam has criticized the economic vision of PML-N, calling it outdated and ineffective.
He pointed out that the party’s approach to address economic issues has remained unchanged, despite the changing circumstances.
Aslam noted that the government lacks a clear strategy to address the country’s economic challenges, with Ishaq Dar and Ahsan Iqbal, who are stuck in old ideas, leading the PML-N’s survival efforts.
During the National Economic Council meeting, Aslam said that Shehbaz Sharif was informed about the growth rate, and the five-year estimate shows an average growth rate of less than 4%, with a negative forecast for major crops next year.
Aslam questioned how this vision would control unemployment and poverty, but no one had an answer, and Shehbaz Sharif passed the buck to the Chairman Planning Commission of Pakistan.
Advisor on finance emphasized that Pakistan has been experiencing recession for the past year, with agriculture and industry sectors in negative territory, but the government insists on calling it stability. He criticized Shehbaz Sharif’s team for having limited ability to read data and celebrating a reduction in inflation, which is still above 8%.
Aslam stated that the reduction in inflation is not due to productive growth, but rather a result of decreased demand and purchasing power due to unemployment and poverty. He added that if imports are decreasing while exports remain stable, it indicates that growth is not progressing, resulting the jobs are not adding.
Mr. Aslam expressed concern that remittances if coverage into investment then there is reason to be jubilant but if it’s barely enough to cover household expenditure then its a matter of concern. He noted that over 2 million people have left Pakistan in the past two years, which will have a negative impact on the country’s Gross National Product (GNP).
KP advisor on finance criticized the government for lacking focus on global development and being unaware of how Trump’s tariff has weakened economic fundamentals. He accused the government of being preoccupied with political maneuvering.
Aslam concluded that the government has wasted three precious years, and both local and international trust in the government is near zero. He emphasized that the Shehbaz Sharif government lacks a clear plan to address the country’s economic challenges, amidst new security challenges.