Islamabad: The Pakistan Tehreek-e-Insaf (PTI) party has strongly criticised the Shehbaz Sharif-led coalition government for pushing the country into an economic downturn, claiming that average citizens have seen their purchasing power slashed by 58% since March 2022, according to a report by Dawn.

Speaking at a press briefing on Sunday, PTI Central Information Secretary Sheikh Waqqas Akram painted a bleak picture of Pakistan’s economy. He said that under the current administration, led by the Pakistan Muslim League-Nawaz (PML-N), the country has moved from robust growth exceeding 6% to a negative growth trajectory.

Akram noted that the financial condition of ordinary Pakistanis is now more alarming than ever. He claimed the government's assertions of having saved the country from bankruptcy were misleading, alleging instead that Pakistan is now entangled in the worst debt trap in its history.

He illustrated the erosion of real incomes, stating that someone earning PKR 50,000 per month in March 2022 now has the purchasing power of just PKR 20,833, while a person who previously earned PKR 100,000 is now effectively surviving on PKR 41,666 in real terms.

Highlighting the rise in unemployment, Akram said over 18 million Pakistanis were now jobless, pushing the unemployment rate to 22%. He warned that rising oil prices — from USD 64 to USD 75 per barrel — would only worsen current account and trade deficits, intensify depreciation of the Pakistani rupee, and raise interest payments.

He also took aim at the government’s revenue target for the fiscal year, labelling the PKR 14,141 billion target as unrealistic. He warned that it would heap additional burdens on already struggling citizens, especially amid a shrinking economy.

Referring to the International Monetary Fund’s May 2025 report, Akram said it had forecast the need for Pakistan to enter yet another IMF programme. He cited both the IMF and World Bank assessments, which said Pakistan’s economy was shrinking with virtually no growth and rising unemployment.

He concluded that the only path to economic recovery lies in the release of PTI founder Imran Khan, free and fair elections, the strengthening of an independent judiciary, and restoring democracy and constitutional order in Pakistan.

According to Akram, without these steps, Pakistan’s economic hardships will continue to deepen — and any talk of revival remains “false and wishful thinking.”
(With ANI inputs)