Pakistan’s economic trajectory is deeply concerning – Poverty surging towards African levels; Muzzammil Aslam

Peshawar:Advisor to the Chief Minister on Finance and Inter-Provincial Coordination Muzzammil Aslam has expressed grave concern over the current state of country's economy, warning that the country is rapidly approaching poverty levels seen in several African nations.

Muzzammil Aslam highlighted that under the leadership of PTI founder Imran Khan, poverty had been significantly reduced, falling to around 35%. However, he warned that the current economic conditions are reversing that progress at an alarming rate.

Citing former Finance Minister Dr. Hafeez Pasha, Advisor Finance stated that 125 million Pakistanis, equivalent to 50% of the country’s population—are now at risk of falling below the poverty line. Despite this alarming situation, he criticized the current federal government for continuing to claim economic improvement while ignoring the ground realities faced by ordinary citizens.

"When poverty increases in a country, purchasing power declines, investment dries up, and unemployment rises," he said. "This creates a vicious cycle where reduced consumption and productivity ultimately drag down GDP growth."

He also lamented the prolonged period of stagnation, noting that Pakistan is now entering its fourth consecutive year of sluggish economic growth.