Islamabad: Chairperson for Senate’s Standing Committee on Finance Saleem Mandviwala has said that Pakistan is going to be declared as a bankrupt state very soon.
Mandviwala, while talking on all such issues, raised serious concerns over the mounting internal and external debts.
Saleem Mandviwala said that if Pakistan is declared a bankrupt state by the outer world, then it would be done due to demolishing policies of the federal government.
He added that Pakistan has received 20 per cent more loan for this year which is really astonishing and surprising for us. He informed that remittances are getting low because of the external investment.
He added that the current government has taken the loans of 74.93 billion dollars from IMF and World Bank.
We have taken a total of 60 billion dollar loan till 2013 after Pakistan came into existence.
Moreover, Saleem Mandviwala informed that Pakistan has to pay back 5 billion dollar each year for next five years.
But it is unfortunate for us that federal ministers have made their own world in which they are watching each and everything as per their thoughts.