ISLAMABAD, SEP 02 (ONLINE): The Pakistan Economy Watch (PEW) on Thursday criticized plan to increase power tariff terming it cruelty amid unprecedented price hikes.
The government is bent upon hitting poor by blindly following orders of the IMF which will never go down well with the masses, it said.
The decision will increase inflation, hit people, production and exports as imports are increasing at a worrying pace since December 2020, said Dr Murtaza Mughal, President PEW.
He said that gap between imports and exports is increasing pushing the trade deficit up and local currency down which will soon result in another wave of inflation as erosion of one paisa in value of rupee against the US dollar adds one hundred and twenty crore rupees to the loans.
Dr. Murtaza Mughal said that increasing expenses, enlarged import bill, and unsatisfactory revenue situation will increase budget deficit which should be controlled.
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