ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has expressed concern over the rising debt level and called upon the government to evolve a new strategy. The government should consult with all stakeholders to curb rising debt as any further increase would jeopardise the economic future of the country, it added. ICCI President Sheikh Amir Waheed said that the external debt and liabilities of Pakistan had increased to $91.8 billion by the end of March 2018, showing a surge of over 50% during the last five years. He called upon the government to take urgent measures to reduce the country’s dependence on borrowing. Further, he cautioned that if this unhealthy trend was not curbed immediately, external debt would soon touch $100 billion.
Published in The Express Tribune, July 11th, 2018.
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