Govt facing heavy burden in shape of debts

ISLAMABAD: Federal Minister for Maritime Affairs, Ali Haider Zaidi on Wednesday said the government was facing heavy burden in shape of debts as PPP and PML-N did not pay attention to long and short term policies.

Expressing his views in a private news channel programme, he said the government was working on increasing exports and foreign direct investment (FDI) and bringing reforms in the federal board of revenue (FBR).

The minister said the government was paying 6 billion rupees interest over loans taken by the last governments.

To another question, he said the country was confronted with multiple economic challenges due to the ill policies of the previous regimes.

Ali Zaidi said keeping in view the pricing mechanism of petroleum products in the international market, the government was bound to increase their prices to ensure balance of payments.