KARACHI: The violent protests in Azad Jammu and Kashmir (AJK) should be eye-opener for the government that is hell-bent to increase price hike, inflation and tax burden blindly on the dictation of IMF, said Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday.

He warned that these protests may spread to whole country, as the people have already been fed up with the policies of the government to over-squeeze them with unbearably high energy tariffs, soaring price hike and over taxation.

He said for the inflation-hit people now enough is enough and it is high time for the government to learn a lesson and reconsider its illogical economic policies.

Altaf Shakoor said the foreign loans have never resolved the economic issues of any nation, as these loans come with many strings attached and the lenders also send their own people to be appointed as finance ministers and state bank governors. This is a deadly debt trap which results in a long-term economic down slide. He said our country is the textbook example of the debt trap but the government is still not ready to correct its path.

He said food inflation in our country is highest in the region. People are protesting against high prices of wheat flour and other eatables. Poverty and hunger are on the rise in whole country and upbeat price hike, joblessness and inflation are further fuelling them.

Copyright Business Recorder, 2024

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E May 13, 2024 09:46am
call it for what it really is. imf debt trap. They do not allow capital project investments but allow funding for current expenditure wastage. Allow sbp back under GOP control to allow print money.
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E May 13, 2024 09:49am
now gop financed through banks loans Commercial rate causing inflation anyway. without monetary independence economic stability is not possible.
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