ICCI President Sheikh Amir Waheed said the previous government had resorted to heavy borrowing to meet current expenditures. It was expected that the current government would curb this unhealthy trend by devising a new strategy. However, starting from July 2013, with every passing year, the quantum of external debt kept growing due to the government’s inability to implement policies that could have ensured sufficient non-debt creating inflows like FDI and exports promotion. He cautioned that if this trend was not curbed immediately, the external debt would soon touch $100 billion that would create grave challenges for the economy.
Published in The Express Tribune, May 20th, 2018.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ