ISLAMABAD – Pakistan Muslim League-Nawaz (PML-N) Information Secretary Ahsan Iqbal on Monday asked the government to link new foreign loans with approval of the parliament. In a statement, he said Pakistan is already over burdened and added that no new loan should be taken without approval of the Parliament. He said PML-N would move a motion in the Parliament for checking government’s unchecked borrowing which has put the country in a debt trap.
It is to mention here that the government has decided in principle to go for a fresh International Monetary Fund (IMF) loan programme. Nawaz-led party had been critical of government’s plan to go for the foreign loans and called for austerity measures to meet its expenditure. The government has managed a Rs 120 billion expenditure cut and Rs 53 billion fresh taxation, along with administrative measures for revenue generation worth Rs 37 billion, however, despite serious efforts, it was still unable to distance itself from the IMF loan.
