Islamabad, June 15, 2022 (PPI-OT):Minister for Finance and Revenue, Miftah Ismail says the budget deficit is a big challenge but the government has formulated its strategy to overcome it. Addressing the ‘National Budget Conference 2022-23, in Islamabad, he said the PTI government took record loans during its tenure, which resulted in the present economic problems of the country. The Minister said the interest payment bill on loans in 2018 was 1499 billion rupees while the circular debt was 500 billion rupees in 2013, which have now multiplied.

He said the present government will spend four thousand billion rupees on interest payments on loans in the coming fiscal year, which will have a negative impact on the national economy. Speaking on the occasion, Minister for Planning and Development Ahsan Iqbal said 800 billion rupees development program has been proposed in the coming budget, which will usher in a new era of development in the country.

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