Summary Abbasi said the budget had become “meaningless,” adding that the past four years had been the worst for Pakistan’s economy
ISLAMABAD (Dunya News) – Awam Pakistan Party Convener Shahid Khaqan Abbasi has said that Pakistan’s main economic challenge is not the International Monetary Fund (IMF) but the country’s own policies, adding that the government is spending beyond its available resources.
Speaking at a press conference, Abbasi said the budget had become “meaningless,” adding that the past four years had been the worst for Pakistan’s economy. He said the government had offered no real relief in the budget, only reversed some old taxes, while new indirect taxes would increase the burden on every citizen.
He further stated that financial relations between the federal and provincial governments had become increasingly concerning, while the country continued to fall deeper into debt without meaningful reforms. Rising interest payments, he added, had become the biggest burden on the economy and were also affecting national security.
Abbasi stressed that the real issue was flawed domestic policy rather than IMF conditions, saying the government was spending more than its resources. He questioned how expenditures would be managed in the current fiscal year and warned that overspending inevitably leads to higher taxation, which he said was not a solution.
He also called for national consensus to address the economic crisis, arguing that the current budget failed to meet public expectations and that the size of the federal government continued to expand.
Abbasi concluded that Pakistan must break free from the cycle of debt, inflation, and heavy taxation, adding that countries lacking political stability fail to attract investment and cannot progress without serious reforms.
