Karachi, Iqbal Hashmi, the General Secretary of the Pasban Democratic Party, has strongly criticized the government’s budgeting practices, claiming that the ongoing deficit is effectively stealing from the public. The national budget is largely consumed by debt servicing and bureaucratic expenses, which hinders development and enriches a corrupt elite.

According to Pasban Democratic Party, Hashmi outlined a grim picture of economic mismanagement, asserting that despite massive borrowing, the funds have not been used for the public good. Instead, they support the luxurious lifestyles of politicians and bureaucrats who, he claims, have no real interest in Pakistan’s prosperity. Hashmi also emphasized the need for annual accountability for politicians and bureaucrats to mitigate inefficiency and corruption.

He argued that the country’s reliance on external debt and heavy interest payments are among the worst inefficiencies facing the government. Hashmi condemned both past and current leaderships for their inability to devise effective economic policies independent of international influences like the IMF, which he likened to termites eroding the nation’s foundations.