Vice Chairman of Pasban Democratic Party, Khaleel Ahmed, has expressed concern over experts’ revelation that 40% of Pakistan’s total budget next year will be spent on interest payments. He stated that this is the nation’s core issue, which is being overshadowed by the infighting of political parties.

In a statement, he criticized the reliance on hefty foreign loans and the heavy interest payments to the IMF and World Bank, labeling it the worst incompetence of both past and present governments.

Khaleel stated, “Corrupt rulers have devoured the nation like termites. Instead of increasing resources and generating income, governmental institutions have depended excessively on foreign loans, which is disastrous for the economy and the nation’s future.”

He added that these foreign loans provide no benefit to the public and are instead spent on the luxuries and conveniences of the ruling elite. The bureaucracy and the elite class, which have dominated power for 70 years, are primarily responsible for burying the country and its people under the burden of heavy loans and interest.

Thand emphasized that escaping the grip of the IMF and other foreign financial institutions is impossible without reforming Pakistan’s economic system. True independence cannot be achieved as long as foreign agents control the country. He stressed that self-serving politicians cannot free Pakistan from this bondage; sincere leadership must come forward.

The PDP leader proposed broadening the tax net, introducing financial reforms to increase revenue, reducing unnecessary expenditures, and focusing on developmental projects. He also urged an increase in exports to earn foreign exchange, thereby reducing reliance on loans. Immediate and comprehensive measures are needed to establish Pakistan’s economy on a sustainable foundation, reduce the burden of interest payments, and prioritize developmental projects.