DLP Report
ISLAMABAD
Adviser to the KP Chief Minister on finance Muzzammil Aslam on Friday claimed poverty in the country had climbed to 29 per cent, adding that economic hardships for the common man were increasing with each passing day.
Addressing a press conference at Khyber Pakhtunkhwa House in Islamabad, Mr Aslam said the province’s outstanding dues from the federal government had reached Rs4,750 billion. He said that whenever the province demanded payment, the federation cited the country’s economic condition.
“Khyber Pakhtunkhwa’s position is that these dues should first be settled, and then a mechanism for payment can be worked out,” he added.
Referring to remarks made by Prime Minister Shehbaz Sharif at the Pakistan Governance Forum, Mr Aslam said the premier had acknowledged that the country went bankrupt in June 2023, despite his government having taken office in April 2022.
He claimed this indicated that the coalition government had pushed the economy into default within a year.
He further said the prime minister had noted that inflation peaked at 38pc in June 2023, compared to 12pc in 2022 during the tenure of Pakistan Tehreek-e-Insaf.
The adviser said the Prime Minister had also conceded that tax rates were high and would be reduced in the next budget. However, he expressed doubts that the International Monetary Fund would agree to a reduction, arguing that the government had failed to meet its revenue targets.
Mr Aslam criticised the prime minister for taking credit for shutting down the Utility Stores and the Public Works Department, saying it was unusual for a head of government to claim credit for closing public institutions.
He said the Securities and Exchange Commission of Pakistan had clarified that reports of 127 companies leaving the country were misleading, as the figure represented cumulative data since 1977.
According to the clarification, only 19 companies had left between 2022 and 2025, while 1,157 companies were registered during the same period.
Mr Aslam claimed that 47,000 companies owned by Pakistani investors were registered in Dubai, while 33,000 Pakistani investors’ companies were registered with the Dubai Chamber of Commerce. He described this as a potential source of hope, saying improved domestic conditions could encourage investment to return.
He added that although the stock market had gained 4,000 points recently, investors had suffered capital losses of $10 billion and overall results remained unsatisfactory.
The adviser also announced that the KP government had introduced a Ramazan relief package under which Rs12,500 would be provided to each of one million families across the province.
