The PPP government has turned the future of Pakistanis bleak by acquiring record high loans running into over a trillion rupees, PML-N President Nawaz Sharif said on Thursday.
“The money borrowed by the PPP-led coalition government during its five-year tenure surpassed the loans taken during the last 60 years. These incompetent rulers have taken the loan ratio to 68 percent while no government can obtain loans beyond 60 percent of the GDP.”
Talking to a delegation that called on him here, Nawaz said the PML-N had broken the begging bowl but the PPP-led government borrowed money from all over the world.
He said revival of the national economy would be a major challenge for the next government.
“If we are voted to power, we will whittle the volume of the loans,” Nawaz vowed.
He said public sector expenses will be curtailed by 33 percent without decreasing salaries, allowances and pensions.
“We will slash the budget deficit and bring it to the level of four percent of the GDP growth rate,” he added. “We will bring tax revenue collection to the level of 15 percent of national growth by 2018 to achieve this target,” he said.
Nawaz said both prime ministers that the PPP had installed were disqualified by the courts.