ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) Central Information Secretary Sheikh Waqas Akram on Sunday accused the federal government of pushing the country into a severe economic crisis, marked by historic unemployment and deepening debt.
Addressing a press conference in Islamabad, Akram said the country’s economy had been derailed from a robust growth rate of over 6 percent to a negative trajectory within a short span, severely impacting the purchasing power of the average Pakistani. He claimed that since the change of government in 2022, purchasing power has declined by 58 percent.
“Someone earning Rs 50,000 per month in March 2022 now has the purchasing power of only Rs 20,833,” he stated. “Similarly, a monthly income of Rs 100,000 now equates to just Rs 41,666 in real terms.”
Akram further claimed that over 18 million people in the country are currently unemployed, with the unemployment rate soaring to 22 percent — the highest in Pakistan’s recent history.
Lashing out at the coalition governments of PDM-I, PDM-II (caretaker setup), and PDM-III, he said they collectively presided over what he described as the “most catastrophic period” in the nation’s economic history.
With oil prices increasing from $64 to $75 per barrel, Akram warned that both the trade and current account deficits are set to widen further. He added that the Pakistani rupee is expected to face more depreciation.
He also criticized the government’s revenue target of Rs 14,131 billion, calling it unrealistic and burdensome on citizens at a time when the economy is contracting.
Responding to official claims of steering the country out of IMF dependence, the PTI leader dismissed such assertions as misleading and disconnected from ground realities. Citing recent reports by the International Monetary Fund (IMF) and World Bank, he noted that both institutions highlighted Pakistan’s ongoing economic decline, rising joblessness, and reliance on external support.
“The IMF’s May 2025 report makes it clear that Pakistan will need to enter another program. Without IMF backing, the country’s economy would collapse,” Akram said.
Copyright Business Recorder, 2025
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