Pakistan: Jamiat Ulema-e-Islam-Fazl chief says PM Sharif failed to revive economy
Aug 11, 2024
Mardan [Pakistan], August 11 : The Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman on Saturday while addressing a farmers' convention alleged that the ruling government of Pakistan failed to revive Pakistan's economy, Pakistan-based ARY News reported.
Rehman alleged that Pakistan's economy was in a "poor state" and Prime Minister Shehbaz Sharif could not fulfil the promises he made, ARY News reported.
Rehman alleged that the country's economy has fallen to such ruins that the next government will not be able to turn it around, ARY News reported.
"If the law and order situation worsens, the economy will suffer further damage," ARY News quoted Rehman as saying.
Rehman further said that China expressed "concerns" about Pakistan's economy, ARY News reported.
"China asked Pakistan to first improve the situation before seeking investment. I also told PM Shehbaz that his visit to China was not successful," ARY News quoted Rehman as saying.
Rehman said that the objectives of the US and Western countries towards Pakistan were not in its best interests, and warned that if the present instability remained unchecked, it would not be in Pakistan's interests, ARY News reported.
As per ARY News report on Saturday, amid economic distress, the financial difficulties faced by urban Pakistani households have soared by 14 per cent over the past year. As a result, a staggering 74 per cent of the urban population in the country is unable to meet their monthly expenses with their current income.
This represents a significant increase from May 2023, when 60 per cent of households reported financial struggles, according to the latest study by Pulse Consultant.
Of those currently struggling to make ends meet, 60 per cent have had to cut back on essential expenses, including groceries, while 40 per cent have resorted to borrowing money from their acquaintances.
Furthermore, 10 per cent of people have taken on part-time jobs to supplement their income, as per ARY News.
