Staff Reporter
Karachi
Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said government borrowed Rs14.7 trillion in last two years.
Talking to businessmen, Mian Zahid said foreign debt stood at $95 billion on 2018 which jumped to $113 billion in June 2020 which is a threat to the economic stability. Borrowing can be reduced by reforms on lower and energy sectors, increased exports and reduced imports, reducing unnecessary imports and non-developmental expenditures, leasing out state land to the business community through transparent auctions, tacking failed state-run companies, improving tax administration and paying refunds to exporters, he added.
