Latest news with #MuzzammilAslam
Business Recorder
2 hours ago
- Business
- Business Recorder
Adviser to KP CM accuses federal govt of manipulating data, misleading public
ISLAMABAD: The adviser to the chief minister of Khyber Pakhtunkhwa on finance, Muzzammil Aslam, on Monday accused the federal government of manipulating the data presented in the Economic Survey for 2024-25 and misleading the public about the state of the economy. In a video message released to the media shortly after the government unveiled its Economic Survey for 2024-25, Aslam accused Prime Minister Shehbaz Sharif's administration of misleading the nation through manipulated figures in an effort to sustain its narrative and hold on to power. He said that the government had used the so-called 'Form 47 approach' – a reference to alleged electoral manipulation – not only to form its administration but also to manage public perception, including during the recent release of the Economic Survey. He rejected government claims of economic stability and recovery, saying that inflation, unemployment and international isolation had worsened. Citing the government's own economic indicators, he said the country's GDP growth had fallen short of targets. 'This year's GDP stands at 2.7%, well below the 3.6% target set last year. I told the prime minister directly last week that this is not something to boast about – it's figure fudging,' he said, recalling a meeting with Sharif. 'Instead of misleading the nation, the government should face economic realities.' Referring to the World Bank, he said 110 million Pakistanis – out of a population of 240 million – were now living below the poverty line, arguing that the government had 'completely crushed the poor.' He also challenged the government's assertion of growth in the livestock and industrial sectors. Further citing official reports, he said agriculture had shrunk by 13.5%, with major crop yields in decline. 'There is no truth in the government's claims of recovery when key sectors are underperforming.' He added that core inflation stood at 11.6%, challenging the government's assertion that inflation had eased. 'Does this look like inflation is going down? Clearly not,' he said. Copyright Business Recorder, 2025
Business Recorder
03-06-2025
- Business
- Business Recorder
Advisor highlights agri output decline
PESHAWAR: Advisor to the Chief Minister of Khyber Pakhtunkhwa on Finance and Inter-Provincial Coordination, Muzzammil Aslam stated that according to the federal government, there has been a 15% decline in the production of major crops, which includes a 30% decline in cotton production alone. As a result, an additional five billion dollars will need to be spent on cotton imports. Similarly, due to the drop in wheat production, 3 billion dollars will be spent on wheat imports. Overall, the decrease in agricultural output will force Pakistan to import goods worth $10 billion, representing a loss of Rs2,800 billion to the country and its farmers. He said the government had claimed that the inflation rate was 4.5% or 4.7%, but it is now admitting that inflation will rise to 7.5% next year. Muzzammil Aslam noted that Pakistan's GDP this year was Rs114 trillion, and next year it's expected to increase to Rs129 trillion. Despite this, only Rs1 trillion has been allocated for development expenditures and the federal government is not launching any new projects. Likewise, no new projects have been allocated to the provinces. Of the Rs1 trillion development budget, Rs120 billion is from savings that were not provided as fuel subsidies, which are being used to build roads in Balochistan. This means that the actual Public Sector Development Programme (PSDP) is only Rs880 billion. He further stated that under the 'Uraan Pakistan' programme, discussions were held on sports, water, and the environment, and Rs65 billion was initially allocated to higher education. This has now been slashed to Rs45 billion without any consultation with the provinces. Muzzammil Aslam pointed out that the government had earlier said that projects which are more than 75% complete would be prioritized, yet two road projects in Khyber Pakhtunkhwa that were over 90% complete have been deleted, which he called a clear injustice and raised during today's meeting. He questioned, 'If the government claims inflation is being brought down to 1%, why is the interest rate still at 11%.' He said that Rs2 to 2.5 trillion in savings from interest payments this year should be redirected to development projects but it is not happening. He said that according to the Planning Ministry, 118 development projects have been scrapped, while the government is claiming that the growth rate will be 4.2% next year, with inflation at 7.5%. Exports will not increase significantly, but imports will rise, and $39.5 billion in remittance has been estimated. Copyright Business Recorder, 2025
Express Tribune
28-01-2025
- Business
- Express Tribune
K-P registers 49% increase in revenue
PESHAWAR: Advisor to the Chief Minister Muzzammil Aslam has said that the Khyber-Pakhtunkhwa government has achieved a 49 per cent increase in revenue collection compared to the previous financial year. In the first half of the current financial year, the provincial government collected Rs42,397 million in tax and non-tax revenue, up from Rs28,435 million during the same period last year. Muzammil Aslam chaired a high level meeting at the Finance Department to discuss tax and non-tax revenue of all departments of the government. He said that the government had set a target of collecting Rs93,500 million in revenue.
