Pakistan Reader# 691, 13 November 2023
Dhriti Mukherjee
On 12 November, the Pakistan Tehreek-e-Insaf (PTI) released a white paper, providing a detailed insight into the “catastrophe” of economic challenges inherited from the Pakistan Muslim League-Nawaz (PML-N) government’s tenure (2013-2018) and shedding light on the subsequent “economic developments” under the PTI’s governance. Additionally, the white paper critically assesses the economic policies pursued by the Pakistan Democratic Movement (PDM) coalition government from April 2022 to August 2023.
PTI’s inherited challenges and stated achievements
PDM government’s alleged economic setbacks
PTI alleged that the PDM government, during its 16-month tenure, opened a “floodgate of inflation,” eroding the purchasing power of households and leading to a substantial increase in poverty rates. PTI claimed that the PDM government’s economic policies resulted in the lowest overall GDP growth in 75 years, recorded at 0.5 per cent. Annual inflation during the PDM government was reported at 38 per cent, in contrast to PTI’s 12.2 per cent. Food inflation was highlighted as a significant concern, reaching 50 per cent under the PDM government compared to 14.8 per cent during PTI’s tenure.
Additionally, the white paper alleged that the PDM government broke records in backbreaking inflation and unemployment, rendering over two million people jobless and pushing 20 million below the poverty line within 16 months.
Comparing economic metrics
References
Rizwan Shehzad, “PTI’s white paper ‘exposes’ PML-N’s ‘economic catastrophe',” The Express Tribune, 13 November 2023
“PTI issues ‘white paper’ on state of economy,” Business Recorder, 13 November 2023
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